As per CryptoPotato, the widely-followed analyst and Bitcoin proponent, CryptoCon BitTime, suggests through their model that BTC cycles exhibit a close correlation, especially when they alternate. The model indicates a target of $47K in the near term, raising questions about Bitcoin's proximity to this level. The second early peak is anticipated around July 9th, 2024, irrespective of the price. The mid-top is likely to occur during Blue or Green Years, determined by the .618 retrace of the weekly cycle candle bodies.
According to CryptoCon's assessment, Bitcoin hitting $47-$48k is on the horizon, with an extended consolidation phase expected to commence in Q2 2024, possibly starting in February. Despite this, the cycle's zenith is still projected for December 2025, with most data points converging at $130k. In October, CryptoCon foresaw Bitcoin reaching $47k by December 2023 or January 2024, employing Fibonacci MVRV chart analysis.
