Bitcoin May Enter 1000-Day Bull Market: Analysts

19. Januar 2023 Von admin Aus

• According to a chart analysis from the pseudonymous crypto-focused Twitter account @CryptoHornHairs, Bitcoin may be at the start of a bull market that could last nearly 1000 days, following the market cycle it has followed since 2015.
• This is news that longer-term Bitcoin bulls want to hear, with prices pushing back above and holding to the north of the $20,000 level as some declare the 2022 bear market over.
• If the market follows its historic four-year cycle, the gains experienced during the bull market phase won’t match those seen in the previous cycles.

Bitcoin is currently in the news as some analysts are suggesting that it may have entered its next bull market cycle. According to a chart analysis from the pseudonymous crypto-focused Twitter account @CryptoHornHairs, Bitcoin may be at the start of a bull market that could last nearly 1000 days, following the market cycle it has followed since 2015.

This four-year market cycle suggests that Bitcoin should rally over the coming years and peak in 994 days, before entering a 364-day bear market. This is news that longer-term Bitcoin bulls want to hear, with prices pushing back above and holding to the north of the $20,000 level as some declare the 2022 bear market over. The speculation has been further fuelled by the belief that the US Federal Reserve may be forced to cut interest rates before long, with indicators of US growth slowing faster than expected.

However, it is worth noting that, even if Bitcoin does end up following its historic four-year market cycle to the letter once again, the gains enjoyed during the coming bull market phase aren’t likely to match those seen in the past. In the 2015 to late 2017 bull market, Bitcoin posted a near 13,000% rally before the bear market began. Meanwhile, during the late 2018 to late 2021 bull market, Bitcoin experienced a little over 600% increase in price.

At the moment, it is impossible to predict what the future holds for Bitcoin and the cryptocurrency market as a whole. However, with prices continuing to hold above the $20,000 mark and analysts speculating that the next bull market cycle may have started, it is clear that the coming months and years could be crucial in determining the future of Bitcoin and its performance in the markets.