70
Markets are cyclical and exhibit a variety of patterns, which can frequently provide insight into the market cycle stage in which an asset such as Bitcoin is currently trading. However, may time also have a role in determining when market cycles reach their zenith The evidence implies that the crypto market is particularly sensitive to market timing, having indicated a definite top or bottom in December. If this data is right and a trend exists, will Bitcoin's price peak or bottom near the end of this year?
When Will The Bitcoin Price Range Break?
Bitcoin remains trapped in the low $30,000 level - a critical inflection point and perplexing stage of the current market cycle. The leading cryptocurrency spent the better part of the last 15 months optimistic, but the market flipped three months ago.
However, rather than a cycle top, the price chart resembles a bull run's midpoint, or possibly wave four of five – with the final leg up being one for the history books. A graphic released by a crypto researcher lends support to the notion by identifying different tops and bottoms in Bitcoin that occur every other December using "sine lines."
Each December in Bitcoin is one to remember, extending all the way back to the first time Bitcoin exceeded $1,000. It rapidly dropped 80% to below $200 by December, when it struck its bear market low. Two years later, in December 2017, Bitcoin's price reached a new all-time high, bringing the bull market to a close and ushering in a new bear market. The bear market reached its zenith – you guessed it – in December. A temporary "bottom" was even established in December 2019 before last year's Black Thursday was triggered by a denial.
What about December 2020?
Bitcoin price blew above previous resistance at an all-time high – a level it never revisited – but is now less than $12,000 away. The Bitcoin's price may reach a new high later this year. That would indicate that the recent "peak" was simply a temporary high and that the bull movement will restart shortly.
A sine line or sine wave, according to Wikipedia, is a "continuous wave" that is "called after the sine function." It is a mathematical curve that essentially defines a "smooth periodic oscillation." More importantly, it occurs frequently in nature — most notably in wind, sound, andnlight. However, what about time?
Time and price are really just different sorts of mathematics that pulse in waves. Before you discount any December speculations, keep in mind that the sine wave begins near the end of this year, and if the math is correct, Bitcoin's price should be much higher.
Interested in learning more about Bitcoin, Blockchain, and Cryptocurrencies?
Subscribe to my Publish0x blog
The links throughout this article are provided for informational purposes only. I am not an affiliate of these companies, I make no recommendation regarding the companies or their services, and I have not received any compensation for linking to their content.
Follow me on instagram
Follow me on twitter
Thank you for reading!
