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Currently there is only two real things that matter for the crypto cycle. The date of the last bitcoin halving, and the date of the current bitcoin halving. This will not be true forever as the crypto market grows, but i believe its still true this cycle.
Been comparing crypto cycles exactly like this since 2016, and it’s always pretty damn similar and accurate.
Looking at the 2021 halving and the 2024 halving in this picture you can see they’re pretty damn similar, and also indicate this cycle is almost over.
After both the 2021 and 2024 halving about 336 days after we reach the first peak bitcoin price, then price falls by about 35-50% and bounce right of the Fibonacci retracement level of 0.680 which is exactly what we see in 2021 and now in 2024
Then 546 days after the halving or 190 after the first peak, we recover back above that, and gain about 7.5%.
After that, the altcoin cycle starts for a couple months and the and then it all ends.
And that’s exactly where we are now.
Bitcoin cannot sustain more than $125,000 max this cycle. That’s a 1.85X from the 2021 ATH price of ($63,000). Which is exactly half the 3.5X Bitcoin did from the 2017 ATH ($17,700) to the 2021 ATH ($63,000). And the ATH to ATH price from each halving has always been almost exactly half of the previous cycle.
Technical analysis is all bogus. But the halving is not. It’s simply supply and demand for the miners. And then human psychology works its magic after that.
So buckle up for altcoin season yall.
submitted by /u/bitcoinovercash
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