Will The Bitcoin Price Repeat the November 28 ATH Pattern of 2013 and 2017

By Finance News On Dec 1, 2024

Bitcoin consistently captures headlines, and over the years, November 28 has emerged as a pivotal date in its history. On this day in 2013 and 2017, Bitcoin surged to new ATHs, sparking global interest and investor enthusiasm. As we approach November 28, 2024, the question arises: Can Bitcoin replicate its past performance and soar beyond $100,000?

You heard it here first… 🤞
Nov 28, 2012 – First BTC Halving Event
Nov 28, 2013 – Bitcoin price breaks $1,000
Nov 28, 2017 – Bitcoin price breaks $10,000
Nov 28, 2024 – Bitcoin price breaks $100,000? 👀@DavidFBailey send it! 💪🔥

— Mark Mason | markmason.btc (@MarkMoneyMason) November 27, 2024

A Look Back: November 28, 2013, and 2017

November 28, 2013: Bitcoin celebrated its first ATH by surpassing $1,000. This milestone was the result of a rapid ascent fueled by growing awareness, increased adoption, and excitement surrounding the disruptive potential of Bitcoin. At the time, Bitcoin was still a niche asset, but crossing the $1,000 barrier established it as a serious contender in the financial landscape, akin to a digital gold rush.

November 28, 2017: Four years later, Bitcoin shattered the $10,000 mark, a significant psychological and market-defining milestone. The 2017 rally was driven by broader adoption, the Initial Coin Offering (ICO) boom, and rising interest from retail investors. By December, Bitcoin’s price peaked near $20,000, concluding an extraordinary year that left a lasting imprint on the market.

These dates have become legendary in Bitcoin lore, symbolizing moments when Bitcoin exceeded expectations and overcame skeptics.

Why November 28? Understanding the Historical Context

The prominence of November 28 in Bitcoin’s history is no mere coincidence. This date is intrinsically linked to Bitcoin’s four-year halving cycle, an event where the block reward miners receive is reduced by half. The first halving occurred on November 28, 2012, initiating a pattern that correlates with Bitcoin’s price cycles. Halvings decrease the rate at which new Bitcoins enter circulation, enhancing scarcity and often sparking bullish price movements in subsequent years. The 2012 halving set the stage for the 2013 ATH, while the 2016 halving paved the way for the 2017 bull run.

With the most recent halving having taken place in April 2024, similar market dynamics are expected to unfold, leading to speculation that November 28, 2024, could witness another ATH.

What Makes 2024 Special?

Several factors contribute to the optimism surrounding a potential ATH on November 28, 2024:

Post-Halving Momentum

Historically, Bitcoin experiences significant price growth in the 12–18 months following a halving. With the April 2024 halving now behind us, the anticipated supply shock has already begun to influence the market. Early indicators suggest a steady increase in demand, setting the stage for a potential record-breaking rally as we approach the end of the year.

Increased Institutional Adoption

Since 2017, the…