Don’t get me wrong, I am very happy to see Bitcoin reaching 50k and my portfolio going up, however isn’t this price action from Bitcoin a bit scary when it comes to predict the top of the bull run cycle?
In the previous cycles, around this time of the year the price of Bitcoin pre halving was around half (or less) of the previous bull cycle top. It is true that while Bitcoin was approaching the 2016 halving in July the price was about 30% below the previous cycle top of $1,000 but it got very close to ATH by the end of the year which is paramount to respect the price action and the cycle theory that rotates around Bitcoin’s halving.
In this bull cycle we are seeing Bitcoin trading at 45/50k two months before the next halving which is about 30% less than the previous top of 68k - until here nothing wrong because we have not broken any ATH - however we still have a long way to go until the end of the year and if there is a new ATH within this year before reaching November/December 2024, it will screw the previous halving theories that predicted the bottom/top of Bitcoin’s cycles. If this scenario happens, we could have a new peak of the bull run way before November/December 2025….
What are your thoughts? Do you still believe we are on track with previous cycles for a top by the end of 2025?
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments