With the fourth Bitcoin halving just 12 days away, the community is buzzing with anticipation, speculating on the potential for Bitcoin to breach the significant $100,000 threshold. Joe Consorti of Theya Research has offered a comprehensive analysis, diving into the intricacies of Bitcoin’s current market position and the factors that might catapult its value to new heights.<\/p>\n
This event, a cornerstone in Bitcoin’s design to halve the rewards for mining new blocks every four years, historically triggers a bullish momentum, and the present scenario appears to be aligning with past precedents.<\/p>\n
Consorti’s analysis<\/a> titled, \u201cBitcoin’s 4th Halving Is [12] Days Away, and $100,000 Isn’t Much Further Behind It\u201d, begins with a deep dive into Bitcoin’s ongoing consolidation phase, which he argues is a critical period that precedes a potential bull run.<\/p>\n “Bitcoin continues its consolidation. In keeping with its previous phases of consolidation<\/a> at $30k and $40k, BTC spends several weeks at key psychological price levels exchanging hands between buyers and sellers before advancing higher,” Consorti stated on X.<\/p>\n