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>>Is Bitcoin's (BTC) upward trend finished following the recent price drop? An expert weighs in.

Is Bitcoin's (BTC) upward trend finished following the recent price drop? An expert weighs in.

crypthub

1 day ago

Bitcoin Cycle Analysis

Joao Wedson believes the 4-year Bitcoin cycle remains valid despite recent market declines. He references a Recurrence Fractal Cycle chart, consistently accurate since 1995, that indicates the cycle is ongoing. Wedson's team developed the Max Intersect SMA Model, which has accurately identified previous Bitcoin peaks. The model’s continued precision is being observed for this current cycle.

Market Behavior and Liquidation

Wedson drew parallels to the 2021 deleveraging event, when Bitcoin subsequently reached a new all-time high after many altcoins peaked. The recent liquidation, while significant, doesn’t necessarily signal an end to the market cycle. Current on-chain data still provides strong signals supporting continued market activity.

Market Potential and Data Signals

The cryptocurrency market’s total value remains lower than Nvidia’s, suggesting considerable growth potential. Wedson noted the lack of general enthusiasm within the market and pointed to metrics supporting a possibility of a new all-time high. Mining fees and other on-chain data currently sit at low levels.

Future Outlook

Wedson cautions against prematurely declaring the market cycle over, highlighting historical instances where major liquidations created bottoms. Bitcoin’s resurgence in dominance suggests a continued market for potentially a month or so. It would be incorrect to consider such a move as the market’s end.