As a seasoned crypto investor with over two decades of market observation under my belt, I find Peter Brandt’s analysis intriguing and thought-provoking. His identification of this unique characteristic in the current Bitcoin market cycle has certainly piqued my interest.
As an analyst, I’ve observed a distinctive characteristic in the ongoing Bitcoin market cycle that sets it apart from previous ones. According to data and charts studied by experienced trader Peter Brandt, this bull market cycle could potentially extend as the longest post-halving period without hitting a new all-time high in the history of cryptocurrency.
As a researcher delving into the dynamic world of Bitcoin, this discovery raises intriguing questions about the current state of the market and the potential for a new All-Time High (ATH) in the near future. Notably, it appears that new cycle highs have been achieved relatively swiftly following Bitcoin halving events, such as those in 2012, 2016, and 2020, according to the data at hand.
In other words, following each halving event, Bitcoin needed eight weeks (in the 2011-2013 cycle), 24 weeks (in the 2015-2017 cycle), and 25 weeks (in the 2018-2021 cycle) to achieve a new all-time high.
In the ongoing Bitcoin cycle from 2022 to 2025, we’ve now surpassed 23 weeks since the last halving, and it appears increasingly probable that this cycle could set new records for the longest stretch without hitting a fresh all-time high (ATH).
As it pushes towards escaping a wide downward trendline, Bitcoin’s current trading is being held back near $62,000 due to strong resistance. To establish a new record high, the price needs to surmount a significant hurdle at approximately $73,804. Whether Bitcoin will hit another all-time high in this cycle isn’t certain, but the market seems to be slowing down and overcoming resistance levels requires sufficient buying power.
Based on Peter Brandt’s assessment, the current behavior of the Bitcoin market might differ significantly, suggesting that reaching a new All-Time High (ATH) could be improbable during this cycle. This would deviate from previous cycles where Bitcoin typically reached new peaks after a halving event.
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2024-08-22 11:55