SHAFAQNA Türkiye – The periods when the price of bitcoin reaches an all-time high are called the bull season. Altcoins make new peaks during this period, and a significant part of them gain dozens of times more. Cryptocurrency In the last bull season, investors came in 2021 and bitcoin has been falling for about 17 months.
Anonymous server InvestAnswers gave a forecast to half a million crypto investors for the next bull season. According to a cryptocurrency observer, the price of bitcoin will hit an all-time high in June 2024.
When is bull season?
According to the analyst, this estimate is based on the average time it took Bitcoin in previous cycles to recover and then crash after hitting all-time highs. Using this timeline, he says that Bitcoin has 415 days left to reach its all-time high in the current cycle.
Cryptocurrency commentator said:
“Each of the last two bitcoin cycles took about three years to return to previous all-time highs, which is not bad. Ladies and gentlemen, we are now halfway through this period and in both previous cycles the price action has retested the market bottom, so it is best to prepare for such a scenario, especially given the current macro headwinds.
The interesting thing is that if you look at where we are now, you will see that we are on the 545th day. And if you average the previous three cycles, we have about 415 days to reach a new bull season.”
If history repeats itself, he may be right. But it worries investors who have encountered many for the first time last year. For example, the price of bitcoin, which kept the peak of the previous bull season as support, failed to do so last year.
But cryptanalyst He thinks differently and seems overly optimistic. According to him, bitcoin is quite strong.
“There are a lot of different things in this cycle. First, we climb faster. Bitcoin is faster. Secondly, we have a lot of headwinds, yes. But there are also headwinds, such as the banking crisis, that could push people towards cryptocurrencies. So this might be interesting. And, of course, with 415 days to an all-time high, by my calculations, on June 27, 2024, just over a year later.”
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