Q4 Will Determine Fate of Bitcoin’s Four-Year Cycle, Says Analyst
Bitcoin reached a new all-time high of over $124,000, prompting discussions on whether the established four-year halving cycle still influences its price or if the market has transitioned to a new phase driven by traditional finance capital.
Key Points
- Bitcoin's recent peak aligns with a favorable macroeconomic environment and anticipated Fed easing.
- Market dynamics show a struggle for control between long and short positions around $118,000–$120,000, with bulls gaining momentum.
- This bull market is the longest in Bitcoin's history at 21 months, raising questions about the viability of the four-year cycle.
- On-chain analysis suggests that a strong Q4 could confirm or challenge the continuation of the four-year cycle.
- Traditional financial institutions are increasingly involved, with buyers like Harvard’s endowment investing significant amounts in Bitcoin ETFs.
- The market may experience less volatility and a consistent uptrend due to long-term holders and deeper capital pools.
- Q4 will be critical in determining the future of Bitcoin's price dynamics and the relevance of the four-year halving cycle.
As of now, Bitcoin trades at $119,068.
