In the cryptocurrency landscape where predicting price movements often resembles a game of chance rather than an exact science, technical analysts like CryptoCon and Adrian Zduńczyk offer models for forecasting Bitcoin’s future. CryptoCon’s Halving Cycles Theory and Zduńczyk’s observations on the multiplier effect of Bitcoin’s halvings provide investors with invaluable roadmaps for navigating the volatile world of cryptocurrency.
CryptoCon’s Halving Cycles Theory divides Bitcoin’s behavior into recurring four-year cycles, each termed Green, Blue, Red, and Orange years, based on the first and second Bitcoin halving events in 2012 and 2016. During the Green Year, Bitcoin reaches a cycle bottom around November 28 and ascends towards a median price, which marks the best period for buying.
The significance of the #Bitcoin halving's is undeniable now.
— CryptoCon (@CryptoCon_) September 7, 2023
My November 28th Cycles Theory is now only a part of this brand-new model:
The Halving Cycles Theory.
You're going learn everything you need to know about right here.
This model exists from… pic.twitter.com/SSzzfpKTpx
This phase is followed by the Blue Year, where Bitcoin consolidates and makes a “second early top” around July 9, without hitting new all-time highs. The Red Year brings in new highs, concluding with a cycle top around November 28. Lastly, the Orange Year is a bear market where Bitcoin corrects its price and finds its next cycle bottom around the following November 28.
Interestingly, this theory resonates with observations made by Adrian Zduńczyk, a chartered technical analyst, who noted that while history doesn’t exactly repeat, it often rhymes. Zduńczyk pointed out that the first Bitcoin halving resulted in a 90X price increase, the second in a 30X increase, and the third in a 7X increase. Although it remains to be seen what multiplier the fourth halving would bring, Zduńczyk’s observations add another layer of complexity and validation to CryptoCon’s theory.
Today, Bitcoin is trading at $26,206.93 and has a market cap of $510.5 billion. CryptoCon’s theory recently indicated that a “first early top” has been reached. Per experts, while a cool-down period may be imminent, the possibility of a rally leading up to the next early top around July 9, 2024, still exists.
