A famous crypto analyst estimates Bitcoin’s potential gains this year based on BTC’s four-year cycle theory.
Pseudonymous crypto strategist Rekt tells his 330,900 Twitter followers that he thinks Btc will be at the bottom this year based on the four-year cycle pattern. The cycle is based on Bitcoin’s halving event, when the reward in BTC miers is left every four years. Bitcoin has fueled a bull market in history around half the time. Recht said,
“BTC’s wild market is coming to an end, according to the pattern of the four-year trend.
But three new candles are about to start next. Rekt says that the third year of the cycle (three candles) is where Bitcoin traditionally descends into a bear market when they experience real gains. “Three candles in 2015 saw a movement of +234% Three candles in 2019 saw a session of +316%. The third candle in 2023 may see a bigger high than many think.
Looking at the three candles from the previous cycle, Rekt says it is possible that Btc will almost double this year.
Last three Bitcoin candles saw rallies of +234% and +316%
But what if we ignore the three wick candle? Then in 2015 Bitcoin formed a + 36% candle and in 2019 a + 97% candle.
- If BTC goes up +36% in 2023 -> ~$22,300
- If BTC goes up +97% in 2023 -> ~$32,400
It’s not far. Rekt adds that the four-year cycle predicts when Btc may reach an all-time high.
“According to the four-year cycle, the new high in BTC (ATH) will occur first in the fourth candle (2024) and the latest in the new candle (2025). If a new ATH will occur in the fourth candle of 2024, it will occur a few months after the April 2024 BTC low.
At the time of writing, Bitcoin is changing hands for $16,532, a low on the day.
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