• Bitcoin price has surprisingly soared above $27,000, driving the global crypto market cap up by more than 5.4%.
• This pattern has occurred after every halving, and a similar upswing is expected once the price breaks above the trend line.
• Altcoins may remain consolidated and hover within an ascending consolidation.
Bitcoin Price Live Today
The crypto markets have broken free from bearish captivity, with most tokens jumping out of ascending consolidation. Bitcoin price has surprisingly soared above $27,000, driving the global crypto market cap up by more than 5.4%.
History Repeating
By analyzing price movements since the beginning, it is evident that crypto is following a similar pattern before and after the halving event. As we know, Bitcoin is getting closer to halving, which occurs once every four years. The previous halving occurred in 2020, while the upcoming one is scheduled for 2024. Thus, the price has reached a crucial juncture beyond which it has undergone a massive upswing in previous times. As shown in the monthly chart above
