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According to Piper Sandler analysts, Bitcoin's recent rally may have more room for rise, pointing to historical price patterns linked to the cryptocurrency's halving cycles.
Analyst Patrick Moley said in his note on Friday: "Previous Bitcoin halving cycles indicate that this bull run could last for about 5 more months."
Bitcoin halving events occur approximately every four years and historically mark the beginning of long-term upward price movements. Moley observes that Bitcoin reached peak levels 1,069 days after the 2017 cycle low and 1,059 days after the 2021 cycle low.#HotTopicDiscussion