Kenne Michael 
According to market observers, Bitcoin’s current sideways price action could turn bullish as early as November if it performs similarly to previous cycles preceding a halving event.
A crypto analyst, Miles Deutscher, cited a chart from CryptoCon on October 10, noting that Bitcoin’s recent patterns are akin to those seen in previous cycles.
“This is typical sideways price action that occurs from Q2-Q4 in pre-halving years.”
The 21st of November has historically been a significant turning point for Bitcoin’s price to begin an upward trend as it approaches the next halving.
For instance, after six months of sideways trading during the middle of 2015, BTC prices began to rise around November. Similarly, in 2019, markets were flat for most of the year before gaining momentum towards the year’s close.
Similar to 2015 and 2019, self-proclaimed crypto trader and technical analyst “Mags” observed that Bitcoin is presently 60% below its all-time high approximately 200 days before its scheduled halving.
Bitcoin Halving in Just 200 Days 😳
Ever wondered where Bitcoin was 200 days before in the previous halvings?
In 2016, BTC was -65% below its ATH.
In 2019, BTC was -60% below its ATH.
In 2023, BTC is currently -60% below its ATH.
So, even if it seems like Bitcoin's price… pic.twitter.com/H8dlWcM91y
— Mags (@thescalpingpro) October 9, 2023
Galaxy Trading added that a similar cycle could see a Bitcoin “dump” or bottom around November 10–15.
2022-2023 bottom
We had (for now) bottom at 9th November 2022
If we see similar cycle we might have the dump – bottom for 2023 around 10-15th November this year. https://t.co/iNikAekfjq pic.twitter.com/6SmTs5mIVB
— GalaxyTrading (@GalaxyTrading_) October 9, 2023
The Bitcoin halving will occur in late April or early May, depending on which countdown timer you consult, in approximately six months.
In a report published on October 9, Markus Thielen, head of research at crypto financial services company Matrixport, predicted that Bitcoin’s price would increase in 2024, but for distinct reasons.
“At present, the most critical macroeconomic factor appears to be a reflection of the situation in 2019 when the Fed paused its rake hikes, leading to a significant surge in Bitcoin prices.”
However, most analysts and market watchers concur that the next significant bull market will occur in the year following the Bitcoin halving.