Bitcoin
Historical trends indicate links between bear markets and halving; Will it be $50,000 or $100,000 for the King Coin?
Crypto World Analyst Josh explained its long term bitcoin price predictions for the current crypto-bull cycle, covering several critical points. He discussed the current stage of the cycle, important signs to identify the top of the bull market, and where we might see the peak of the bull market.
Starting with the month Bitcoin chart, he said each candle represents one month of price action, spanning more than a decade of Bitcoin history. This chart clearly shows several bull and bear cycles, closely linked to Bitcoin halvings.
These halvings, which reduce the new supply of Bitcoin, have historically triggered significant bull markets due to decreased selling pressure from miners and increased scarcity. Bull markets typically begin about a year before each halving and last approximately three years, followed by a one-year bear market.
Historical halving cycles
First halving (November 2012): Bull market until the end of 2013, followed by a bear market until 2014 and early 2015.
Second halving (July 2016): Continued bull market until the end of 2017, then a bear market throughout 2018.
Third halving (May 2020): Bull market until 2021, with the bear market beginning in 2022.
Fourth halving (April 2023): The bull market is expected to continue for about a year, potentially starting the next bear market in mid or late 2025.
Bitcoin Weekly Chart
Super Trend Indicator: This indicator, which remains green during bull markets and red during bear markets, currently suggests that the uptrend is intact. The crucial level to watch is $52,000; a weekly close below this would signal a bearish reversal.
Continued bull market: Several charts and indicators point to the current bull market likely to continue for about another year, based on historical patterns. Using the Fibonacci extension levels from previous bull market tops to bear market bottoms, the analyst developed a model that predicts bull market tops.
This model accurately predicted previous bull market tops by measuring extensions (e.g., 350%, 260%, and 200%) of retracement levels. Applying the same method, the model predicts a maximum potential of around $120,000 for Bitcoin this cycle, with some flexibility (e.g. $110,000 to $140,000).
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