We are seeing a somewhat predictable pattern in terms of bitcoin price cycles
Bitcoin tends to take just a little bit more time to reach it's peak.
During each previous market cycle, bitcoin has taken long and longer to reach it's eventual peak.
At least measured from the cycle lows anyways...
Given that context it makes sense to expect this next peak to take just a little bit longer than the previous ones.
Here's the previous peaks starting from their cycle lows:
(Source:
)https://twitter.com/DTAPCAP/status/1299158939095924736/photo/1
- DTAPCAP
What does this mean?
As you can see on that chart above, bitcoin is currently following pretty closely to the most recent market cycle after the 2016 halving.
From the bottom during that cycle to the highs, it was over 1000 days.
Given where we are currently, we would expect the price to peak roughly 400 days from where we are today, if it continued to follow the 2016 pattern.
That would put the peak somewhere around October of next year.
However, it it takes just a little bit longer this time around, we may not see the peak until the end of 2021 or even the beginning of 2022.
TLDR?
For those wanting to see some parabolic moves from bitcoin, you are going to have to settle in because we likely have well over a year before bitcoin eventually peaks during this current market cycle.
Stay informed my friends.
-Doc