The Next Cryptocurrency Rise Could Not Happen Until 2024





    • New data indicates that bitcoin could follow a sideways trajectory for a few years before resuming its bull run.
    • Bitcoin holders may have to wait until 2024 for the next price spike, according to a seasoned trader.
    • Historically, a crypto market bull run required a wait of around 33 months before the next large-scale rise occurred.

Peter Brandt, a seasoned trader, shared some historical patterns in a tweet from April 6, 2022, which suggest bitcoin holders may have to wait until 2024 for the next BTC price surge.

Bitcoin has pleasantly surprised analysts with its performance over the past year. This is because the expected “blow-off” at the end of the fourth quarter in 2021 was much weaker than initially expected.

The long-running debate about the relationship between price and bitcoin’s four-year halving cycle changed after BTC/USD fell more than 50% from those modest all-time highs. In the past, the market was used to a macro price top that occurs in four-year cycles. This specifically happens with every Bitcoin block halving event.

However, these big price actions have become much less predictable. Although several complex factors are controlling this price action, this does not indicate that market bulls will make their presence felt at any other point in the current cycle.

According to the data provided by Brandt’s tweet, we can expect bitcoin’s next impulse wave to take place in 2024. This almost exactly coincides with bitcoin’s next halving event.

From a historical perspective, it might come a year too early for a breakout high, but there is a real possibility that it still offers a 10x price increase. This is based on historical patterns that go beyond halving cycles.

Brandt also explained that the last time bitcoin’s price rose 10x or more, it took an average of 33 months before the next large-scale increase occurred.

Disclaimer

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The Next Cryptocurrency Rise Could Not Happen Until 2024


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