Analyst Peter Brandt compared this period to 2017, showing 8 weeks to rise
Experienced analyst Peter Brandt does not think that the declines in Bitcoin will be long-term. Evaluating the course in a tweet he sent, Brandt compared the current period to the halving time in 2016.
Peter Brandt, who stated in his latest comment that he thought that the bull season would last until September 2025 during the rise of Bitcoin in the past months, made comparisons with the past.
'It looks like the 2015-2017 period'
The famous analyst, who also shared a table on X, set a similarity between the past halving periods and the present and said, "The decline in Bitcoin since Halving is similar to the halving bull market cycle in the 2015-2017 period."
In the far right column of the chart below shared by Brandt, there is also the number of weeks that should pass each halving period for new peaks in the cycle.
The chart, which shows that 8 weeks should pass for new heights in the halving in 2012, 24 in 2016 and 25 weeks in the halving in 2020, shows that 16 weeks have passed so far in 2024. So Brandt states that it is about 8 weeks for new heights to be seen here.
Another similarity between today's and the halving in 2016 is seen in the ratio of declines, which is currently at 26% for Bitcoin, which fell 27% to the bottom after the halving in 2016. (If it doesn't go even lower)
The big rally came in 2016
The halving in 2016 took place on July 9 of that year. Bitcoin closed its halving week at $650. At the end of 2017, the biggest cryptocurrency reached a historical level for that period with 20 thousand dollars. In other words, after the halving, Bitcoin rose more than 30 times from the bottom it fell.
