The historic cycle of Bitcoin bulls remains intact despite the widespread fears of investors with the current slowdown, which suggest analysts, can only be a ephemeral “shock” before the next traffic on the market.
The price of Bitcoin (BTC) has currently dropped by 22% compared to the highest maximum in history of over USD 109,000 registered on January 20, on the day of the inauguration of the US President Donald Trump, show the data of Cointelegraph Markets Pro.
Despite many moods of investors in “extreme fear” many times, historical chart patterns suggest that it can simply be a shock of price – a sudden price drop caused by many investors abandoned in their positions, preceded by sudden price recovery.
“A few key technical indicators have become bear, which leads to speculation that the bull cycle may end prematurely,” said Bitfinex Cointelegraph analysts.
BTC/USD, 1-year chart. Source: Cointelegraph
“Despite this, the 4-year Bitcoin cycle remains an important factor, historically shaping price movements,” said analysts, adding:
“Corrections in bull cycles are normal, and past trends suggest that it can be a shock rather than the beginning of an extended bear.”
However, the launch of American Bitcoin rotary funds (ETFS), which temporarily exceeded the total resources of $ 125 billion, along with growing institutional cryptographic investments, “it is clear that the conventional cycle ceases to exist,” added analysts.
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In the hopeful sign of the price, Bitcoin organized a daily approach above USD 84,000 on March 15, for the first time in over a week from March 8, TradingView The data show.
BTC/USD, 1-day chart. Source: TradingView
However, due to the correlation of Bitcoin with time-honored financial markets, BTC can only find the bottom with capital markets, especially S&P 500, said Bitfinex analysts, adding:
“While 72,000–73,000 USD remains a key range of support, a wider market narrative, especially global tax yields and capital trends, will dictate another important Bitcoin movement.”
“Trade wars have already been valued to some extent, but the long -term economic burden could consider sentiments,” added analysts.
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Bitcoin half and a four -year cycle still crucial for the price: Nexo analyst
Despite the fears of the disturbed Bitcoin Bull market, a four -year cycle, along with the Bitcoin half event, remains crucial for Bitcoin price, according to Iliiy Kalchev, shipping analyst from Nexo Digital Asset Investment Platform.
“The four -year annual Bitcoin (CAGR) growth rate fell to a record low level of 8%, indicating whether its traditional four -year cycle remains important,” said Kalchev Cointelegraph, adding:
“Although strong institutional adoptions in the last year served as a significant wind for Bitcoins, its events should still have long -term influences.”
Painting by half Bitcoin 2024 reduced the Bitcoin block award to 3.125 BTC per block.
BTC/USD, 1-day table from 2024. Source: TradingView
The price of bitcoins increased by over 31%, because the last half took place on April 20, 2024, which was invented the “most stubborn” configuration of the Bitcoin price, partly due to the growing institutional interest of the first cryptocurrency in the world.
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