Bitcoin Faces Record Delay to New All-Time High, Post-Halving Struggles Persist

Bitcoin is 10% down post-halving and slower than ever to hit a new all-time high. Market experts weigh in on what’s causing BTC’s extended stagnation.

Bitcoin is grappling with a prolonged recovery to reach a new all-time high after its latest halving event. According to veteran trader Peter Brandt, BTC’s post-halving performance is taking longer than ever, leaving traders and investors uncertain.

Bitcoin remains sluggish after its halving event, with a delayed push toward new all-time highs.

Key Points:

• Bitcoin is still 10% below its all-time high following the 2024 halving.

  
  

• Peter Brandt highlights that Bitcoin’s post-halving recovery is slower than in previous cycles.

  
  

• Inflation-adjusted, Bitcoin’s 2021 peak remains unchallenged, posing strong resistance.

  
  

• Despite upcoming Federal Reserve rate cuts, experts predict continued sluggish price movement for BTC in the near future.

Related: Bitcoin ATM Scams Surge by 1,000% Since 2020: FTC Issues Urgent Warning

As Bitcoin lingers in a prolonged recovery phase, experts like Peter Brandt emphasize the importance of patience. The crypto market may face further challenges in 2024, but long-term holders could see brighter days ahead, especially if BTC finally overcomes its current resistance levels.

Source: Cointelegraph