According to the new price model, Bitcoin (Bitcoin) is set to test hodlers with a “mid-cycle pause” before embarking on a bull run towards the end of 2024.
According to the creator of the popular CryptoCon analyst, “November 28 Cycle Theory” Expects BTC price to reach all-time highs in 2025.
Countdown to the “beginning of the bull run”
Amidst the debate about the current four-year cycle, CryptoCon believes that everything regarding the behavior of BTC/USD on a certain time frame may be simpler than imagined.
He explained the “November 28” chart on
“Using 4-year time cycles in my theory reveals the exact behavior of Bitcoin over time since its inception. The cycles center around the first halving date on November 28.”he concluded.
“Bitcoin price movement started from the first bottom on October 8, 2010. This is the point at which cycle curves peak every 4 years. The peaks and bottoms come at the respective moments of the curve, +/- 21 days after November 28. The peaks are rising, the bottoms reach the top.”
The chart marks November 28 as the date when Bitcoin starts a “bull run” every four years. The last one was in 2020, when BTC/USD surpassed the previous all-time high (ATH) and reached the current record of $69,000 a year later.
Therefore, the next point of interest is November 2024.. Until then, the stock is expected to remain in a “mid-cycle recession.”
“After reaching the minimum, the price makes the first move of the cycle (orange) and then enters a stagnation phase in the middle of the cycle”CryptoCon continues.
“This is the longest part of the cycle where Bitcoin spends a period of time around the average price (about half the previous ATH) until the curve bottoms out.”
He then added that Bitcoin has “almost certainly” peaked: referring to local maxima $31,800 in July.
A Bitcoin “bull market scam.”
As Cointelegraph reported, recent comments on the subject BTC price trend halving The difference of 2024.
Related: Pantera Capital: Bitcoin Halving Could Hit $148,000 By July 2025
Some claim that: modest increases were recorded they will be the only ones until the event scheduled for next April.
Filbfilb, co-founder of DecenTrader trading suite, said in an interview with Cointelegraph this week: but stated a target of $46,000 for the halvingand $35,000 by the end of the year.
in the last one newsletters CryptoCon, released on September 5, summarized the 2023 price performance as “bull market fraud”.
“This shows that the bull market started with many signals triggered but at some point the price cannot continue”” he finishes.
“This is the most convincing example we have seen so far. Personally, I think it needs a little more time and I am patiently waiting for it to be completed.”
This article does not contain investment advice or advice. Every investment and trading transaction involves risk and readers should do their own research before making a decision.
Translation by Walter Rizzo