Bitcoin January drop of 10% mirrors past post-halving trends

Bitcoin (CRYPTO:BTC) has experienced a 10% decline in January, a pattern not uncommon in post-halving years, according to analysts.

Historically, Bitcoin has seen drops of 25% to 30% during this month following halving events.

“Bitcoin dumping in January has historically been a common occurrence in post-halving years,” noted crypto analyst Axel Bitblaze, referencing past declines in 2017 and 2021.

Currently, Bitcoin's price has fallen from a high of $102,300 on January 7 to around $94,000.

In January 2021, Bitcoin fell over 25%, dropping from more than $40,000 to just above $30,000 before surging to an all-time high of $69,000 later that year.

Similarly, in January 2017, it slumped by 30%, falling from $1,130 to $784 but then skyrocketing by 2,400% to reach $20,000 by December.

YouTuber Crypto Rover remarked that this decline is minor compared to previous downturns.

“This is just a small dip compared to what we’ve seen before,” he stated.

Analysts believe the current cycle may have more potential for growth due to factors like mass adoption and supportive regulatory environments.

Stockmoney Lizards noted that “this cycle has more fuel in the coming 12 months,” suggesting that prices could exceed $200,000 by the end of 2025 if historical trends repeat.

However, they also caution that significant pullbacks could push Bitcoin below $70,000 if patterns from previous cycles hold true.

At the time of reporting, the Bitcoin price was $93,873.65.