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Will Bitcoin (BTC) Repeat This Cycle? Interested Investors Closely!

When will Bitcoin (BTC) rise? Will the decline continue? All the answers may be in this loop!

Will Bitcoin (BTC) Repeat This Cycle? Interested Investors Closely!

Detecting cycles by analyzing past movements in cryptocurrency markets is more than a delusion. Most of the time, the cycles that occur can repeat themselves several times over the years. In this case, what we need to do is to examine the last quarter cycles of Bitcoin . First and foremost is the Thanksgiving cycle.

Bitcoin (BTC) Thanksgiving Cycle

Among these determinations was the possibility of a sudden collapse of the price on Thanksgiving Day, November 26. Last year, BTC lost 20% between November 24-27. Of course, this decline has stopped at some point and finally a new bull season has begun that lasts for months.

Bitcoin
Bitcoin

In the chart above, you see the same periods of 2020 and 2021. The graph moved close to each other in both periods until the end of November. In the graph of 2020 on the left, the rise that started as of December draws attention. The price bottoms out at $16,000 and is up almost 80% in just 1 month.

Bitcoin (BTC) 2021 December Forecast

If Bitcoin is to continue this cycle of last year, it will need to reach a price of over $ 100,000 before the end of 2021. The latest statement by PlanB supports this. The analyst, who applied the S2F model to the Bitcoin price, hopes that the target of $ 98,000 will be realized in December. Of course, in this case, we will witness token increases exceeding 1000% in the altcoin market.

The general view of technical analysts is that the current bull walk is not over yet. Of course, Bitcoin has always followed the same cycle for years, breaking its direction during the most voracious periods of investors and starting new rallies during the times that everyone feared. This is exactly why not everyone who spends 5-6 years in the cryptocurrency markets has the luxury of being rich.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton Theblockchainnew.com he is the editor-in-chief of the news portal. Blockchain is love.

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