- Historical chart patterns and trends of Bitcoin
indicate that it follows four-year cycles, divided into bull and bear cycles. - The analyst mentioned that Bitcoin is designed around four-year cycles, guided by Bitcoin halving events occurring every four years.
- The analyst predicts that Bitcoin is currently in a bull phase since January 2023 and could potentially sustain the bull run until December 2025.
How long can the upward trend in Bitcoin price continue? What do these chart patterns and curves indicate?
How Far Can the Bitcoin Bullish Trend Extend?
Historical chart patterns and trends of Bitcoin indicate that it follows four-year cycles, divided into bull and bear cycles. Historically, this corresponds to a three-year bullish trend followed by a one-year bear correction. In the last bear market, the BTC price dropped from $68.8 thousand in November 2021 to $16.4 thousand in December 2022.
A popular analyst shared a Bitcoin cycle chart illustrating BTC price patterns from 2014 to 2025. The analyst mentioned that Bitcoin is designed around four-year cycles, guided by Bitcoin halving events occurring every four years. Bitcoin halving events typically lead to a significant rally in Bitcoin price. The four-year cycle historically consists of three years of bullish trends followed by one year of bear correction. BTC price patterns have been similar throughout history.
The analyst predicts that Bitcoin is currently in a bull phase since January 2023 and could potentially sustain the bull run until December 2025. The BTC price experienced a 170% rally in 2023 amid a series of lawsuits, regulatory challenges, and increased scrutiny.
The next Bitcoin halving event is expected to take place on April 20, 2024, according to NiceHash countdown data. The Bitcoin block reward will decrease from 6.25 BTC to 3.125 BTC. In response to the upcoming halving event, the Bitcoin price has started rallying upwards in the last two months.
Current Status of Bitcoin Price
The BTC price has been relatively flat in the last 24 hours and is currently trading at $42,870. The 24-hour low and high values are $42,216 and $43,202, respectively. Additionally, the 7% decrease in trading volume over the last 24 hours indicates reduced interest among traders. Positive sentiments due to the SEC-approved Spot Bitcoin ETF and interest rate cuts by the US Federal Reserve are also factors influencing the Bitcoin price rally.
Source: https://en.coinotag.com/how-long-can-the-bull-run-in-bitcoin-price-continue/