After mobilizing to the highest new level ever at $ 123,000, Bitcoin has slowed since then The sales operations were also leaked. As always, this has led to speculation that digital assets have witnessed the top of the price range, indicating the end of the emerging market. However, using the achieved price theory, which always shows the high price of bitcoin in every bull market compared to the previous high cycle, it is possible that the gathering is far from the completion.
How to measure the Bitcoin cycle peaks to the previous investigator price
GERT Van Lagen has moved to X (previously Twitter) to Involve An interesting historical trend indicates that the price of bitcoin has not reached its climax yet. This trend relates to the price of the encrypted currency, then the number of complications it rises in relation to this price achieved to celebrate the climax of the new cycle.
In reference to the previous bull markets, Van Lagen explains that Bitcoin has always increased through several complications from the price of the rights before it actually represented the top of a new cycle. In 2011, the price increased by 8X in proportion to its achieved price before reaching the market summit, and this trend will continue over the next decade.
Quickly forward until 2013, and Bitcoin price will lead to a similar bitterness again. This time, the price increased by 6X before reaching a new peak. A similar trend was seen again after 4 years in the next bull race that started in 2017. The BTC price operated 5X before the top was in.
Again, in 2021, the price of bitcoin showed that it always moves some complications from its price of rights before calling the summit. Despite the collapse of the devastating market due to Covid in 2020, Bitcoin managed to gather 4X, the price of which was won before it reached $ 69,000 in 2021.
Looking at this trend, BTC is expected to also follow and make complications from the price of the documents Before the summit is in. However, given the historical performance, it indicates that with every marketing market, the range with which the high price has decreased. Consequently, BTC is likely to see less complications compared to 4X seen again in 2021.
According to the data from the Glassnode, the current Bitcoin price is $ 51,000. This means that so far, the price has already increased by 2x. But after the direction of the past few bull markets, BTC can multiply 3X from the price of the barriers. If this is the case, the possibility of access to Bitcoin is still very high. Also, if this achieved price theory continues, this means that the emerging market has not ended yet, and the currencies crying on the runway are still on the runway.
Distinctive image from Dall.e, Chart from TradingView.com
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