Bitcoin: Mega Rally in December?
Is Santa bringing Bitcoin a mega rally this year?
Why Bitcoin may be at the cusp of a new rally
In terms of the “BTC rally” narrative, the timing for a new Bitcoin rally makes sense. First, and perhaps most importantly, Bitcoin is currently in a post-halving cycle.
Every four years, Bitcoin undergoes a block reward halving which reduces the pace at which new BTC is mined by 50%.
The price of BTC typically peaked 14 to 16 months after the halving in the past two cycles. Hence, a peak for the next major rally in mid-2021 would be historically relevant.
Second, as Cointelegraph reported, there is a low level of interest coming from the mainstream and new retail investors. The majority of the demand for Bitcoin is seemingly coming from whales, high-net-worth individuals and what analysts describe as “smart money.”