Analysts predict Bitcoin's bull cycle to continue
Analysts predict Bitcoin's bull cycle to continue
Crypto experts have analyzed charts and historical price trends of the major cryptocurrency, Bitcoin, and predicted its continued bullish momentum.
According to their calculations, it is clear that BTC has four-year cycles consisting of alternating bullish and bearish movements.
Historical data supports the trend of three years of intense bullish trend followed by one year of bearish movement, CoinGape reported.
For example, the most recent bearish cycle began in November 2021, when the price of Bitcoin collapsed from $68,800 to $16,400 in December 2022.
Renowned analyst Ali Martinez published a chart of the Bitcoin cycle from 2014 to 2025, where he noted that the bull cycle will characterize the major cryptocurrency for another two years. He explained that historical data confirms the existence of a four-year cyclical pattern and explained that this is due to the cryptocurrency's planned halving, i.e., halving the number of tokens. Halving is usually followed by a massive jump in Bitcoin prices.
In other words, a four-year cycle is formed by three years of a bullish trend and one year of a subsequent bearish correction. Each time, the cycles repeat themselves and have similar signs.
Ali Martinez believes that Bitcoin is now continuing the bullish phase that began in January 2023 and should continue its bullish growth until December 2025. The next market top, he says, could come around October 2025.
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The year 2023 brought Bitcoin's recovery and 170% growth despite harsh regulatory policies and numerous lawsuits in the industry.
The next Bitcoin halving is scheduled for April 20, 2024. The reward per Bitcoin block will drop from 6.25 BTC to 3.125 BTC. As a result, the value of the number one cryptocurrency has been rising for two months.
The price of BTC has been in a sideways trend for the past 24 hours, and at the time of writing, the value of BTC was $42,758. At the same time, trading volume has decreased by 7% in the last 24 hours, indicating that traders are cautious.
Recall that a positive factor for Bitcoin growth is the expectation of the imminent launch of spot Bitcoin ETFs in the U.S. and the softening mood of the U.S. Federal Reserve, which plans to start cutting interest rates in March 2024.
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