CryptoQuant CEO: Bitcoin accumulation period is coming to an end! Ready to enter a hype period that lasts 500 days? Crypto venture capital firm Paradigm returns.
Original: CC. Niya 2024.04.04
Today is Thursday, April 4, 2024. I just saw that the CEO of Cryptocont released a very interesting chart. The source of the chart is the research team of Galaxy. From this chart, I think the relationship between the Bitcoin halving cycle and the price can be seen very clearly. There are three stages, from left to right, the bright yellow hype period, the light blue disillusionment period, and the light orange accumulation period on the far right. As I said before, we are still in the accumulation period. It's just about to end.
There are only about two weeks left before the Bitcoin halving, which also marks that we will start again and start from the origin on the left. We will experience the initial hype period. During this period, the price of Bitcoin tends to rise sharply. Historically, the price performance after each halving has always risen sharply, and I believe this time will be no exception. This is similar to the chart I shared before. You can see below that on average, the number of days each stage lasts is about 500 to 550 days after the halving, and the Bitcoin price tends to reach its peak. This is why I say that the Bitcoin price may reach the peak of the cycle around October 2025.
Of course, this is just an inference based on historical cycles. In fact, a small number of Bitcoin on-chain indicators show that the room for growth may be relatively limited, but there are also some indicators that indicate that the Bitcoin price may still double. Among them, the MBRV indicator is the most obvious, which is what we have discussed before. From the perspective of the chart of this halving cycle, we are about to enter the price hype stage, and we can see that the price is rising rapidly. Of course, there will always be some unexpected fluctuations in the market before and after the Bitcoin halving, but sooner or later it will rise sharply, such as in the first cycle.
