Wen moon? Bitcoin halving cycle hints at Q4 as smart money ‘buys the rumor’

Bitcoin (BTC) is “much more likely” to remain rangebound till at least Q4, 2023, according to longtime market participant Filbfilb.In an X thread on Aug. 25, the popular expert and co-founder of trading suite Decentrader informed readers to expect flat BTC cost action into year end.Filbfilb: BTC price approaching “vital time”Bitcoin might be disappointing bulls after its 70% Q1 gains, but for Filbfilb, there is little about BTC rate action this halving cycle that is various to its previous ones. Throughout this period, Bitcoin has historically consolidated,” he explained.Uploading various comparative charts, Filbfilb anticipated that miners must begin to bid rate higher into the Bitcoin halving– with this taking place around 1,276 days after each prior halving.”If that can remain stable, then I think the video game theory will play out and Bitcoin will convincingly break $30k before the 2023 year-end,” he wrote.Should a more bearish scenario go into and Bitcoin return to $20,000, the current 2023 local high of $31,800 may remain in force.

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