• Renowned crypto analyst James Altucher predicts a ‘flipping frenzy’ in June 2023 due to the upcoming halving event and anticipated US recession.
• The halving of mined Bitcoin supply could catalyze a significant increase in the price of Bitcoin, while quantitative easing may further stimulate the price.
• Historically, when the long-term holder realized price surpasses the Bitcoin realized price, it has resulted in a significant Bitcoin rally.
Bitcoin ‚Flipping Frenzy‘: Here’s Why June 2023 Could Ignite A Massive Bull Rally
Fear Ingredient Index and Season Index
Renowned crypto analyst James Altucher highlights an intriguing scenario in the cryptocurrency landscape. Despite the Fear Ingredient Index, a measure of market sentiment remaining relatively neutral last week, there is an observable disconnect between Bitcoin’s performance and that of other cryptocurrencies. While the conventional Season Index suggests an ongoing Bitcoin season, a comparison between Bitcoin and altcoins over the past week paints a different picture. Altcoins ranging from Litecoin to Ethereum and Dogecoin appear to have outperformed Bitcoin resulting in lower market dominance for BTC.
Impact of Halving Event & Quantitative Easing
With less than 11 months remaining until next year’s Halving event, which is expected to take place around April 14th 2024, James Altucher emphasizes its importance as it will effectively halve supply of Bitcoins mined from blocks thus pushing prices higher. Simultaneously he also points out that if US went into recession by then it could lead to quantitative easing which would result in influx of capital thus further stimulating prices making it attractive asset for investors.
Historical Indicator Of A Bitcoin Rally
Altucher draws attention to a recurrent pattern observed since 2012 where long-term holder realized price surpasses Bitcoin realized price known as ‘the flipping.‘ This phenomenon has historically resulted in significant rally for BTC with most events taking place around June each year except 2020 due pandemic induced crash.
The upcoming halving event coupled with potential US recession leading to quantitative easing could be favourable combination for investors looking at BTC as investment option during summer 2023 with possible flipping frenzy providing bullish momentum that might ignite massive bull run for BTC prices