A new BTC price model suggests that Bitcoin (BTC) will reach its all-time high in 2025 after a "mid cycle lull" in late 2024. Developed by popular analyst CryptoCon, the "November 28th Cycles Theory" argues that Bitcoin's price behavior can be understood through four-year cycles.
Countdown to BTC price "bull run launch"
Amid ongoing debates about the nature of Bitcoin's four-year price cycle, CryptoCon believes that understanding BTC/USD behavior is simpler than some may think. According to the analyst, the date of November 28th is a key pivot point in the year, with a three-week period on either side.
On X (formerly Twitter), CryptoCon unveiled the November 28th chart and explained that this date is where Bitcoin's price action begins, with tops and bottoms occurring +/- 21 days from that point. The chart reveals that Bitcoin sees a "bull run launch" every four years on November 28th—the most recent one being in 2020 when BTC/USD surpassed its previous all-time high to reach the current record of $69,000.
Awaiting the "mid cycle lull"
After the November 2020 bull run, Bitcoin's next point of interest will be November 2024. Until then, the BTC price is expected to experience a "mid cycle lull." According to CryptoCon, this period is the longest part of the cycle, during which Bitcoin hovers around the median price (half of the previous all-time high) until the curve bottoms.
However, CryptoCon believes that Bitcoin has already reached its early top with local highs of $31,800 in July of this year.
Debates continue about future price action
Opinions about the future price behavior of Bitcoin leading up to the 2024 block subsidy halving are varied. While some argue that modest gains will be the norm before the event in April next year, others have more optimistic predictions.
Filbfilb, co-founder of trading suite Decentrader, recently stated that he expects Bitcoin to reach $46,000 by the halving, with $35,000 predicted by year-end. However, CryptoCon summarized 2023 as a "bull market fakeout," suggesting that although signals may indicate the start of a bull market, the price fails to continue.
As of September 8th, BTC/USD traded at $26,200.
Note: This article does not provide investment advice. Readers should conduct their own research and make informed decisions.
Did you miss our previous article...
https://trendinginthenews.com/crypto-currency/former-ceo-of-turkish-crypto-exchange-sentenced-to-over-11000-years-in-prison-for-fraud-and-money-laundering
