According to BlockBeats, on September 20, according to CoinDesk, anonymous crypto analyst CryptoCon pointed out that BTC reached its mid-cycle peak in 2016 and 2020, and then experienced several months of sideways consolidation before finally breaking through higher at the end of the year.
Bitcoin’s halving event occurs automatically every four years, reducing the issuance of new tokens by 50%, which is widely believed to affect the supply of Bitcoin and create scarcity.
This year, BTC peaked at $73,000 in March before falling back about 33% to its low in early August. CryptoCon noted that it is nearing the end of a typical mid-cycle correction.
“Whether it’s the peak of the cycle or the recession predictions, everyone has reason to fear the worst,” he said. “Meanwhile, the cycle continues to run as expected.”
“All signs point to a true bull run for Bitcoin in 2025,” he added.
