Cryptos Start Year in Holding Pattern in Advance of Bitcoin Halving

If you don’t follow crypto, you might say this is simply the first year of the third decade in the third millennium.

But if you know what’s going on in the crypto world, you might describe it differently: It’s the first week in the year of the third Bitcoin halving.

That’s a big deal. Because in every prior halving, crypto prices followed a distinct pattern:

• They held firmly and rallied before the halving

• Then, they truly skyrocketed after the halving

That’s also the pattern we’ve seen in the current time frame; markets have mostly continued their path of sideways consolidation, which was also the dominating trend in the last few weeks of 2019.

The quietness in the markets is captured perfectly by our leading Index, the Weiss 50 Crypto Index (W50), which was down just 1.25% on this week.

Furthermore, when we strip out Bitcoin — which can at times diverge from the rest of the space — we see the same pattern of sideways…