A well-known crypto analyst says that Bitcoin (BTC) will break all traditional assumptions of its market cycle in the coming year.
A pseudonymous researcher known as TechDev tells his 402,000 Twitter followers that BTC will break the conventional wisdom that its price cycles are determined by decreasing cycles. A semi-cycle is a four-year period when the wages for Bitcoin miners are reduced, which many investors believe plays a role in putting pressure on the price.
TechDev predicts that BTC ignores the upcoming halving, it will probably happen in the middle of 2024, but it turns to early next year. TechDev predicts that the rebound in Bitcoin next year will coincide with the decline in the US dollar, which it compares against China’s 10-year bond to explain the global liquidation trend.
The analyst also argues that Bitcoin peaked in April 2021, rather than November, indicating that the bear market is deeper than many believe and therefore closer to a reversal. He uses crypto analyst Litecoin (LTC) as an example of a coin that hit a new low in November, rather than a higher high than seen in Bitcoin.
“BTC” grew “April 2021 imo. The nature of LTC (orange) is easy to digest for many.
Parabolic top vs. distribution, making the November 21 high low.
Most people still don’t seem to understand that the waves can reach heights. I was once part of many.