Past performance is not always indicative of future results but I don't have a crystal ball so I will use the data available to me in order to predict a timing and area of the BTC bottom for the current cycle.
On average there is typically 1,380 days between halving cycles.
The beginning of the halving cycle to the price bottom of that cycle, takes approx. 830 days on average, or about 60% into the cycle.
Cycle bottoms occur on average, 389 days after the cycle top.
The average drawdown for the past 2 cycles has been 87% and 84%, respectively.
That gives us these potential bottoming areas:
1) 80% = 13,850
2) 82% = 12,300
3) 84% = 11,000
4) 86% = 9,700
Based on this data I can reasonably infer that BTC is likely to bottom somewhere between 13,000 and 10,000, and between the months of September and November of 2022.
* The above information is not intended as investment advice and should not be taken as such. These are my own opinions and TA. As always, please do your own due diligence before making investment decisions.
On average there is typically 1,380 days between halving cycles.
The beginning of the halving cycle to the price bottom of that cycle, takes approx. 830 days on average, or about 60% into the cycle.
Cycle bottoms occur on average, 389 days after the cycle top.
The average drawdown for the past 2 cycles has been 87% and 84%, respectively.
That gives us these potential bottoming areas:
1) 80% = 13,850
2) 82% = 12,300
3) 84% = 11,000
4) 86% = 9,700
Based on this data I can reasonably infer that BTC is likely to bottom somewhere between 13,000 and 10,000, and between the months of September and November of 2022.
* The above information is not intended as investment advice and should not be taken as such. These are my own opinions and TA. As always, please do your own due diligence before making investment decisions.