Brothers, Bitcoin's "script" is playing out perfectly as planned! Some traders are optimistic about BTC and predict that it is expected to hit the cycle high of $150,000. Recently, BTC has been consolidating below the 2021 high of $69,000, but this is actually preparing for the "breakout period" of the four-year cycle.
Four-year cycle theory: BTC is about to enter the "breakout year"!
According to the four-year cycle theory, Bitcoin is about to end its second year and enter its third year, and historical data tells us that this year is usually the year of BTC's big breakout! Bitcoin is currently in a descending extended wedge, market sentiment has been reset, and interest rates are also falling. This is simply the perfect script for Bitcoin to rush to new highs!
Investor sentiment heats up, and the fourth quarter may become the starting point of the bull market
Investors' interest in Bitcoin has increased significantly in the fourth quarter, especially institutional investors' expectations for spot ETFs have boosted this sentiment. They said that the possibility of "Uptober" and the 2024 bull market is still optimistic. If the FOMO (fear of missing out) sentiment in the market continues to spread, Bitcoin may usher in a wave of violent rebounds.
Note: October is a critical month
The next October is very critical. Bulls must hold the bottom established in the past eight months. If BTC can close above the upper trend line of the extended wedge, then we may see the third year of the four-year cycle-the historic outbreak year officially begins!
The market is promising! If institutional demand continues to rise, coupled with the return of spot ETF inflows, Bitcoin may reach new heights in the fourth quarter. Don't miss this wave of market, seize the opportunity!
