Bitcoin is currently in a bullish phase since January 2023 and will potentially continue its bullish run until December 2025 PromotedAd $PIKA – Fastest-growing GameFi token. Join the Presale Now! Pikamoon ($PIKA) – Join the Presale Now! By Varinder Singh 2 hours ago Updated 1 hour ago
Bitcoin’s historical chart patterns and trends indicate that Bitcoin has four-year cycles, divided into bull and bear cycles. Historically, this translates to three years of bullish run followed by one year of bearish correction. In the last bear market, BTC price tumbled from $68.8k in November 2021 to $16.4k in December 2022.
Bitcoin Bull Run To Continue Another Two Years
Popular analyst Ali Martinez shared a Bitcoin cycle chart indicating BTC price patterns from 2014 to 2025. He said Bitcoin is designed around four-year cycles, which is driven by Bitcoin halving events happening evening four years.
Bitcoin halving events usually led to a massive rally in Bitcoin price. The four-year cycle has 3 years of bullish trends followed by 1 year of bearish correction. Bitcoin price patterns have been similar historically.
Martinez predicts Bitcoin is currently in a bullish phase since January 2023 and will potentially continue its bullish run until December 2025. BTC price rallied 170% in 2023 despite several lawsuits, regulatory challenges, and heightened scrutiny.
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The next Bitcoin halving is estimated to happen on April 20, 2024, as per the countdown data by NiceHash. Bitcoin block reward will decrease from 6.25 BTC to 3.125 BTC. Bitcoin price has already started rallying higher in the last 2 months in response to the upcoming halving event.
BTC price trading sideways in the 24 hours, with the price currently trading at $42,916. The 24-hour low and high are $42,216 and $43,202, respectively. Furthermore, the trading volume has decreased by 7% in the last 24 hours, indicating a decline in interest among traders.
Spot Bitcoin ETF approval by the US SEC and positive sentiment due to rate cuts by the US Federal Reserve are also factors influencing Bitcoin price rally.
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