The Bitcoin Price hit a new highest time In July, but has since subsided. While the Ethereum Prize had also hit a new highest back in August, Wider Altcoin market remains weak, which leads to speculation that there will be no Altcoin season. Without expectations that an Altcoin season will soon occur, some have started to demand the bike peak, which means that a bear market can be on the horizon.
Bitcoin halving trend says the bull market is over
Crypto Investor and Trader Philakone took to X (formerly Twitter) platform to update His over 170,000 followers on which part of the bike the market is on. To do this, Philakone looks back on the last two bull cycles, using the duration of each from the Bitcoin halving to predict when the current cycle will end.
The Bitcoin halving Has always been a way to predict when bull and bear markets could begin, and during the latest cycles it has been quite accurate and the trend has remained similar. One of the most important things is how many days after the Bitcoin halving ended, it took for the Bitcoin price and the crypto market to reach the top.
As Crypto Trader explains, as early as 2017, after Bitcoin halving in 2016, it took a total of 545 days for the bull market to be completed. Similarly, it took another 525 days for the bull market after 2020 Bitcoin halving for the bull market. This shows a narrow time frame for each.
Currently the crypto market has already been in 506 days of the bull market at the time of post, with Bitcoin price Already, several new peaks meet. As a result, the crypto analyst believes that it is time to make a profit as there are fewer than 30 days left for this bull market. He also believes that the bull market is now “100% over”.
4-year-old bicycle theory is thrown out
Bitcoin 4-year-old bicycle theory has historically been one of the most accurate action for When the bull market begins and ends. But this current cycle has deviated sharply from the 4-year cycle, and this has been attributed to the change in macrohjuv wind. The advent of things that Spot Bitcoin ETFS Had triggered “premature” liquidity in the market, pushed the BTC price to early heights and left the Altcoin market behind.
But other such antiprosynthesis.eth believe That the 4-year-old bike was never in the first place. Instead, it was only macro liquidity that adapted every four years. Then the bear markets were taken by macro liquidity becoming negative, and the turnaround in the tide the market now sees is because macro liquidity becomes positive instead.
Featured image from dall.e, chart from tradingview.com
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