Wen moon? Bitcoin halving cycle hints at Q4 as smart money 'buys the rumor'
Bitcoin miners and "smart money" are the investor cohorts to watch when it comes to late 2023 BTC price action, says Filbfilb. Bitcoin (BTC) is “much more likely” to stay rangebound until at least Q4, 2023, according to longtime market participant Filbfilb. In an X thread on Aug. 25, the popular analyst and co-founder of trading suite Decentrader told readers to expect flat BTC price action into year end. Filbfilb: BTC price approaching "critical time" Bitcoin may be disappointing bulls after its 70% Q1 gains, but for Filbfilb, there is little about BTC price action this halving cycle that is different to its previous ones. “Bitcoin is 1200 days since the previous halving. During this period, Bitcoin has historically consolidated,” he explained. Uploading various comparative charts, Filbfilb predicted that miners should begin to bid price higher into the Bitcoin halving — with this occurring around 1,276 days after each prior halving . “Miners are incentivized to