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Is Bitcoin’s Famous Four-Year Cycle Finally Broken? What to Expect in Q4
Bitcoin analysts have sparked a heated debate regarding the cryptocurrency’s notorious four-year cycle. As prices continue to fluctuate, experts weigh in on whether this pattern has finally been broken.
Despite predictions of institutional disruption altering traditional market trends, Glassnode analytics suggest that Bitcoin’s price action still adheres to its historic four-year halving cycle. Long-term holders have begun taking profits at levels mirroring past market peaks, hinting that the cycle may be more advanced than initially thought. Moreover, Bitcoin ETFs have experienced $975 million in outflows over the past four trading days, indicating a potential weakening of demand.
Historical patterns indicate that if the cycle remains intact, Bitcoin’s peak could arrive as early as October 2024. Frank Fetter from Vibe Capital Management points out that typically, there is an average of 1,060 days between Bitcoin hitting a bottom and reaching a top in bull markets. Currently, Bitcoin is approximately 1,000 days removed from its 2022 low, suggesting potential runway remains.
Some industry figures argue that institutional adoption may have disrupted the traditional cycle behavior. Bitwise chief investment officer Matt Hougan recently stated that this cycle’s timeline will differ because halving cycles matter less over time and interest rate cycles become more favorable for crypto. Michael Saylor, CEO of MicroStrategy, urges Bitcoin holders to disregard bears amid market downturns.
Despite the debate surrounding the four-year cycle, traders should prepare for potential price fluctuations in Q4.
Source: coincentral.com
