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(BTC), the leading cryptocurrency, has endured a bear market for almost two years while leaving investors eagerly anticipating the next rally.
- CryptoCon’s theory draws insights from historical price movements to provide expectations about what lies ahead.
- CryptoCon states that Bitcoin’s price movements began with its first bottom on October 8, 2010, and since then, cyclic curves have peaked every four years.
According to a theory presented by CryptoCon, the historical cycles in Bitcoin provide predictions about when a bull run might start.
Is Bitcoin Price Preparing for a Bull Run?
Bitcoin (BTC), the leading cryptocurrency, has endured a bear market for almost two years while leaving investors eagerly anticipating the next rally. During this period, numerous analyses and theories have emerged, speculating about the timing of the next Bitcoin surge, including external factors like regulatory uncertainty affecting the asset.
One notable theory comes from crypto analyst CryptoCon, who shared their views in a tweet on X (formerly known as Twitter) on September 7th. CryptoCon’s theory leverages historical price movements to provide insights into what to expect in the future.
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The theory centers around the “November 28 Cycles Theory” and suggests that this theory anticipates the possibility of a new bull run for BTC in the coming year.
The path to Bitcoin’s next bull run
According to this theory, Bitcoin’s price movements are cyclical, each cycle lasting approximately four years, and they all converge around the first Bitcoin halving event on November 28.
The essence of CryptoCon’s theory is that significant peaks and bottom levels in the digital asset’s price occur around the date of November 28, approximately +/- 21 days, with peaks signaling upward momentum and bottoms indicating the peak of a downward trend.
CryptoCon stated that Bitcoin’s price movements began with its first bottom on October 8, 2010, and since then, cyclic curves have peaked every four years. After each bottom, Bitcoin experiences an early first-cycle movement, followed by a lengthy stagnation in the middle cycle, with the price typically hovering around a middle price that’s roughly half of the previous all-time high. According to the analyst, the next major bull run typically starts from the bottom of the curve. The analyst mentioned:
“The idea that everyone is expecting four-year cycles ensures that they continue on their way. Things like price and exact timing will continue to surprise. These time cycles have remained accurate until today.”
Therefore, according to this theory, CryptoCon predicts that Bitcoin’s next bull run will commence on November 28, 2024. The next peak in Bitcoin’s price is expected to be approximately +/- 21 days around November 28, 2025, while the subsequent bottom is predicted to occur during the same period in 2026. Consecutive middle-cycle stagnation is forecasted for June 2027.
While CryptoCon’s theory offers an intriguing perspective on Bitcoin’s price movements, it’s important to remember that cryptocurrency markets are highly volatile, and predictions inherently carry risks.
Currently, the crypto market is watching factors like the possible approval of a spot Bitcoin Exchange Traded Fund (ETF) to trigger a price rally. Additionally, the upcoming Bitcoin halving event is expected to partially contribute to a price rally.