Post-Halving Bitcoin Price Prediction in 2024: Bullish or Bearish Outlook?

 

What's happening with bitcoin?

As I mentioned before, the crypto market is still indecisive, with no clear uptrend or downtrend. Whether you are BTC holder or trader you should have an idea what to do during the next crypto market changes. What's the next bitcoin move, is it bullish or bearish? I personally see two scenarios for further bitcoin movement:

Bitcoin bullish scenario

On the chart above, you can clearly see how BTC is forming a bottom at $59,600. It shows a strong support line that gives us some confidence for the next move to the upside, reaching $68-69k, and after confirmation, the next leg up to $73-75k. Look at the volume; the selling pressure isn't as big as it was during the previous drops (three times), and that's a good sign too.

Bitcoin bearish scenario

Some traders believe Bitcoin has bottomed at $60-$65k, which does make sense. After the recent drop to $59,000, BTC recovered very fast with a huge volume. But it's a good opportunity for large crypto holders to drop the coin to $50k or even lower to cut off long positions and, at the same time, make a rebuy. While I don't see any significant news at this moment that may impact Bitcoin's price to the downside, it's important to have tight stop losses to minimize losses.

From my experience, I’ve learned to be cautious when things seem too good to be true. I remember once getting caught up in a similar situation, thinking a quick recovery was the start of a new rally—only to watch the market drop again. That’s why I always keep tight stop losses in place now. It’s better to lose a little and stay safe than to risk a huge loss.

Should I buy $BTC right now?

Honestly, I don’t think now is the best time to buy. I’ve made the mistake of buying in too high before, hoping for more upside, only to see the market reverse. At these prices, the potential gains don’t seem worth the risks. I’ve been keeping an eye on the Bitcoin halving event, and to be frank, it hasn’t had the immediate impact many of us expected. Sure, halving events usually lead to price increases, but this time it’s been more gradual.

Personally, I’m waiting for the price to dip below $50K before jumping back in. That’s where I feel the risk-reward ratio makes more sense, especially if you’re planning to hold for the next 6-12 months. I’ve done this before—waiting patiently for a better entry point—and it’s paid off when the market recovered later on.

My Trading Advice Based on Experience

Right now, the market is as unpredictable as I’ve ever seen it. For those of you looking to trade, I’d recommend being patient and waiting for clear price confirmations before making any big moves. If Bitcoin breaks above $68,500, that could be a good opportunity to go long, aiming for a target of $73K. But as always, be cautious. I’ve been burned before by jumping in too early and using too much leverage in an unpredictable market, and that’s something I wouldn’t want anyone else to experience.

For those thinking about shorting, I’d suggest waiting for a drop below $58,000 before making a move—and make sure to use small leverage to protect yourself from bigger losses. I’ve learned the hard way that using too much leverage in a volatile market can wipe you out quickly.

Conclusion

In my experience, Bitcoin always keeps you guessing. Back in 2020, I remember when everyone thought the bull run was over, and then Bitcoin surprised us all by soaring to new heights. It’s moments like those that remind me not to take the market at face value. Right now, I’m being cautious and watching those key levels, especially around $58,000 and $68,000. I’ve seen both bullish and bearish scenarios play out unexpectedly before, and that’s why I like to keep my options open.

Personally, I’m holding off for now, but that doesn’t mean others should do the same. It depends on your strategy and risk tolerance. If you’re in it for the long haul, maybe you’re better off buying dips. For me, I’ve learned that waiting for the market to settle after a significant move tends to work best. Everyone’s approach is different, though — and that’s the beauty (and frustration) of crypto.

Just remember, you don’t have to follow the crowd. When I first started trading, I used to jump in and out based on hype, but over time, I found that having patience often brings better results. Stick to your plan, stay informed, and don’t rush it. Bitcoin has a way of surprising us when we least expect it.