- CryptoCon’s “28 November Cycle Theory” predicts a testing period for Bitcoin holders before a bull run in late 2024.
- The theory identifies November 28 as a significant pivot point in Bitcoin’s four-year “bull run” cycle, but anticipates a period of “mid-cycle stagnation” until then.
- While some analysts have varying predictions for Bitcoin’s price in 2024, CryptoCon suggests Bitcoin could reach an all-time high in 2025.
A new Bitcoin price model by CryptoCon predicts a period of stagnation before a significant bull run in late 2024, potentially leading to an all-time high in 2025.
Countdown to the Bull Run
CryptoCon’s model, based on the “28 November Cycle Theory”, suggests that Bitcoin’s price behaviour could be simpler than many imagine. The theory identifies November 28 as a critical pivot point in Bitcoin’s four-year price cycle, with a three-week period on either side. The model predicts a period of “mid-cycle stagnation” leading up to the next significant pivot point in November 2024.
Understanding the “28 November Cycle Theory”
The theory is centred around Bitcoin’s first halving date, November 28, and uses four-year time cycles against this date to predict Bitcoin’s behaviour over time. According to the theory, Bitcoin’s price movement started at its first low point on October 8, 2010, and the cycle curves peak every four years from this date. Peaks and troughs occur 21 days after November 28, with peaks during the rise and troughs at the peak.
Differing Predictions for Bitcoin’s Future
Opinions vary on where Bitcoin’s price movement will go leading up to the 2024 halving event. Some investors argue that modest gains are all that Bitcoin holders will see before the event scheduled for April next year. Filbfilb, co-founder of DecenTrader, however, has set a target of $46,000 for the halving and highlighted a level of $35,000 by the end of the year. CryptoCon, on the other hand, summarised the 2023 Bitcoin price behaviour as a “bull market false breakout” in a recent bulletin.
Conclusion
While predictions vary, CryptoCon’s “28 November Cycle Theory” offers a unique perspective on Bitcoin’s future price movement. The theory suggests a period of stagnation before a significant bull run in late 2024, potentially leading to an all-time high in 2025. As with all predictions, only time will tell if this theory holds true.
