Bitcoin prices tend to rise when there are fewer new bitcoins available in the market and demand remains constant or increases. Back in April, BTC surged above $73,000 to reach new all-time highs just before the halving event. Some experts are now predicting that the price could continue to rally, potentially reaching as high as $160,000 by the end of this year.
However, since hitting those record highs, bitcoin prices have been fluctuating in the range of $59,000 to $65,000. This sideways movement has lasted nearly 300 days, a trend reminiscent of a similar period of stagnation in 2016.
