In the lead up to the halving of the block rewards, bitcoin always enters a bull run.

The theory is that when block rewards halve, miners dump fewer new coins on the market to pay electricity bills or take profits. In other words selling pressure drops.

On the other hand, bitcoin has been going for 14 years, which means there are a lot of coins in existence that could be dumped at any time.

With the above caveats out of the way, here is the graph of bitcoin halving cycles:

![](https://pbs.twimg.com/media/FlfxqxKXwAA1LVb?format=jpg&name=4096x4096)
[source](https://twitter.com/BitcoinPierre/status/1610021900712923137/photo/1)

From the graph, it does look like bitcoin is following previous patterns. The nice thing about patterns is that the technical traders who study them tend to make them a self-fulfilling prophecy.