As Bitcoin (BTC) continues to move in a sideways trading pattern with the majority of the cryptocurrency market, traders and investors are analyzing its historical movements to see if there is hope for a bullish rally next year.
Will the next 3 years be the year of Bitcoin?
If we take into account the past movements of Bitcoin, a pattern emerges followed by a year of a bear market after a year when the flagship digital asset reached an all-time high (ATH), as observed by the pseudonymous crypto analyst Mustache on Dec.
According to the table shared by the expert, Bitcoin had ATH in 2013, followed by a bear market in 2014. The same price action took place in 2017/2018 and 2021/2022, and Mustache explained that it’s a “four-year cycle”, not a “super cycle”.
Bitcoin historical price action. Source: Mustache
If the pattern continues, this means that after the 2022 bear market for Bitcoin, three years of price increases could potentially come to a peak in 2025, followed by 2026 another bear market year.
Great expectations from Bitcoin
Legendary investor Bill Miller, meanwhile, expressed his surprise at Bitcoin’s performance during the recent downturns for the crypto industry as a whole, predicting that it will likely outperform in the future as the Federal Reserve loosens monetary policy.
As he said:
“Given the FTX boom, I am surprised that Bitcoin is not at half its current price. Humans have escaped from space, so it’s pretty remarkable that it’s still hanging there at $17,000. But inflation is under attack and real rates are rising rapidly. If and when the Federal Reserve starts to spin, I would expect Bitcoin to perform quite well.”
Earlier, Mike McGlone, commodity strategist at Bloomberg Intelligence, expressed the expectation that Bitcoin will likely experience a “hot period” and continue its rally in 2023, with a good chance of outperforming financial markets, as the global economy focuses on a possible drop and BTC rises.
Bitcoin price in 2022
Currently, the first crypto asset is currently trading at $16,832.15, which is a daily gain of 0.24% and 4.82% on its weekly chart, with Bitcoin suffering a total loss of 65.37% in 2022. is showing a decline.
Bitcoin price in 2022
Currently, the first crypto asset is currently trading at $16,832.15, which is a daily gain of 0.24% and 4.82% on its weekly chart, with Bitcoin suffering a total loss of 65.37% in 2022. is showing a decline.
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