• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Bitcoin far from top

Comparing Past Crypto Cycles Suggests Bitcoin Nowhere Near Top

Hououin Kyouma by Hououin Kyouma
2 years ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

Comparing past crypto cycles shows there is a clear pattern, and Bitcoin seems to be nowhere near the top right now.

Bitcoin researcher Dor Shaher has pointed out on Twitter that there is consistency in the way correction periods have played out in previous cycles.

Bitcoin Price Growth Since Cycle Low

Here is a chart from _checkonchain that will make it easier to understand how the pattern in the BTC cycles appears:

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Bitcoin Price Cycle

BTC price growth since low

Upon closer inspection, it becomes clear that each cycle had a correction period around the middle.

The first cycle is the 2011 one. Here is how Bitcoin’s price changed during it:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

2011 correction

The marked area in the chart is the correction period where the price shows a clear downwards trend. It lasted 51 days.

The next correction occurred in 2013 as shown in the below chart.

2013 correction

This one wasn’t as smooth as the previous one; it had many dips and rises. It disappeared after 88 days.

2017 is the next relevant year, but it’s unlike the others.

2017 looks different than all others

As you can see in the chart, rather than a specific period of decline, Bitcoin had sporadic downs of around 30-40% in 2013. They lasted 90 days in total.

Related Reading | South African Brothers Escape With $3.6 Billion In Bitcoin

Finally, there is the cycle we are in right now.

The current cycle

Comparing this to the previous years, it’s possible that the recent crash is the mid-cycle correction. So far, it has lasted 70 days.

When Will The Correction Period End?

It’s hard to say when the Bitcoin price will start rising again, but guesses can be made if the mid-cycle theory stands correct.

The 2010-11 epoch peaked in 325 days, while the 2011-2015 did in 747 days. 2015-2018 took further long with 1067 days.

From this, it looks like each cycle is longer than the last. The reason behind that is probably BTC maturing as an asset.

Related Reading | Bitcoin Hash Rate Goes On Death Spiral Post China’s Crackdown On Miners

If the pattern follows, the current cycle should be longer than 1067 days. So, at 921 days so far, it should go on for at least 148 days before peaking.

Also, each correction period has also been longer than the last. It’s possible this one will be at least 90 days long, which would mean a few more weeks of downwards trajectory.

Right now, Bitcoin seems to be around $32k. While it’s down 11% in the last 7 days, it seems some whales have started accumulating, which could be a positive sign.

BTC seems to be going down | Source: BTCUSD on TradingView

Could the current downtrend be the mid-cycle correction? Possibly, but nothing can be said about its certainty.

If it’s indeed the mid-cycle correction, and the pattern holds, then Bitcoin is nowhere near the top right now.

Featured image from Unsplash, charts from _checkonchain
Tags: bitcoinbtccryptocryptocurrency
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Hououin Kyouma

Hououin Kyouma

Loves to write, enthusiastic about cryptocurrency. Currently studying Physics at university.

Related Posts

Bitcoin Network

Craig Wright Wants His $2.5 Billion, Demanding For a Bitcoin Hard Fork

3 hours ago
Bitcoin

Don’t Get Too Greedy On Bitcoin, Analyst Suggests, Here’s Why

22 hours ago
bitcoin price bear

Will Bitcoin Price Return To $20,000? Here’s What Investors Expect

23 hours ago
Bitcoin

Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021

2 days ago
Bitcoin crypto liquidations

Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

2 days ago
Nigerians buying bitcoin

Are Nigerians Really Buying Bitcoin For As High As $34,000?

3 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom And Decentraland Explode As Big Eyes Coin Raises $21M In Presale

February 4, 2023

The Metaverse Represents The Future of Web3: Decentraland (MANA), The Sandbox (SAND), and Snowfall Protocol (SNW) Lead the Way

February 4, 2023

Snowfall Protocol (SNW), Shiba Inu (SHIB), and Cronos (CRO) – The Best Cheap Cryptos to Buy Now

February 4, 2023

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.