Unveiled The upcoming peak of the Bitcoin cycle
Despite a recent slowdown in the price performance of Bitcoin (
BTC
), experts believe that the current corrections are a normal part of the cryptocurrency’s cycle, following patterns seen in previous cycles. A well-known cryptocurrency analyst has even predicted when Bitcoin’s next cycle top may occur.
While the price of the leading decentralized finance (
DeFi
) asset has dropped below its recent all-time high of $73,738 in mid-March and is currently hovering around $65,000, the market cycle top could potentially be reached by the end of this year.
Bitcoin cycle top forecast
Professional crypto trader Ali Martinez has suggested that if the current Bitcoin market cycle follows the patterns of the last three cycles, the next peak could occur around December 2024 or October 2025. This analysis was shared in a recent post on June 18.
As illustrated in the chart provided by the crypto expert, Bitcoin has displayed similar price movements in the past three market cycles as it is currently showing in the cycle that began in 2022. Following the trajectory of the 2011-2015 cycle, Bitcoin could reach its peak (+40,000% from cycle low) in December 2024. Alternatively, tracking the trends of the 2015-2018 and 2018-2022 cycles could lead to a market cycle top as late as October 2025 (+10,000% or +2,000%, respectively).
Bitcoin price analysis
At the time of writing, BTC was trading at $65,160, indicating a slight increase of 0.11% in the last 24 hours. However, it had declined by 4.13% over the previous seven days and 2.95% over the month. Despite these fluctuations, Bitcoin has gained 54.38% in 2024 as of June 19.
Considering the current corrections in the market and the recent drop in Bitcoin’s price, it may be a good opportunity to ‘buy the dip’ and accumulate the cryptocurrency before its price potentially rises towards one of the projected market cycle tops. It’s worth noting that Bitcoin has just hit its one-month low.
In conclusion, while the crypto specialist has made predictions about potential cycle tops for Bitcoin, it’s important to remember that trends in the cryptocurrency market can change rapidly. Conducting thorough research before making investment decisions is crucial.
Disclaimer:
The information provided in this article should not be considered as investment advice. Investing in cryptocurrencies carries inherent risks and uncertainties.