Bitcoin has prepared for an unprecedented price discovery until it has been peak within the next few days, according to veteran businessman Peter Brandt.
“It makes sense to expect a bull market high on any day today,” Brandt told Cointelegraph on Wednesday, citing Bitcoin’s (Btc) history cycle pattern, played in three previous cycles.
“These cycles from low-to-high-high-high are not always the same length, but the post-halving distance of each is always equal to pre-halving distance,” Brandt said.
Sunday marked the important day for the Bitcoin cycle
Brandt explained that Bitcoin hit the current cycle low on November 9, 2022, which was 533 days before the stop of Bitcoin on April 20, 2024.
“Add 533 days until April 20, 2024, and Bingo, this week,” he said. That date fell on Sunday, just a day before Bitcoin set a new all-time high at $ 126,100 on Monday.
However, Brandt emphasized, “there is always an ‘except,'” that can be meaningful for how bitcoin prices perform. “The trends that violate the existing cycle or arrow -time nature of the markets are usually the most dramatic,” he said.
Brandt noted that while market cycles were not always repeated in the same way, Bitcoin followed them so far.
“Sooner or later, the cycles change. But betting against a cycle with a perfect three-for-three record should not be done without a careful apostasy,” he said.
Brandt said he was 50/50 in the outcome. “I will stay bullish, there is hope for counter-cyclicality. In this case, a move well beyond $ 150,000 I will expect, maybe as high as $ 185,000,” Brandt said.
Bitcoin Four-year Cycle Debate continues
It came as the debate continued if the four-year crypto cycle remains relevant, given the onset of institutional adoption, ETF products, and corporate digital assets treasury.
In July, the Crypto analyst returned to capital The Bitcoin cycle follows 2020 Pattern, the market is likely to peak in October.
“We have a very small sliver of time and extending the price left,” Reks said on July 3.
Some argue that even if Bitcoin does not follow the four -year cycle exactly, it will still show some kind of pattern.
Gemini’s APAC region leader, promised Ahmed, said to Cointelegraph in token2049 That’s “ultimately stems” from people who are excited and overwhelming, and “then you see a crash, and then it’s kind of correction in a balance.”
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Many analysts rely on Bitcoin to post significant acquisitions before the end of the year. Economist Timothy Peterson told Cointelegraph on Tuesday that a 50% chance Bitcoin finished the month of over $ 140,000, based on Simulations using data from the past decade.
Looking forward, Bitmex’s co-founder Arthur Hayes and Market Research unchained director, Joe Burnett, both tinted to Bitcoin to reach a high $ 250,000 at the end of 2025.
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