Renowned on-chain analyst Checkmate has updated his outlook on Bitcoin (BTC)'s current market cycle, stating that a parabolic rise is likely.
The pseudonymous analyst told his 90,000 followers on social media platform It is most likely that we will enter a period of unstable integration.
Six months later, checkmate To tell Based on historical precedent, a parabolic move could take six months to a year.
“Bitcoin’s history tends to rhyme, and so far this cycle is no exception.
The songs sung in the last two cycles depict about 6 months of fine-grain solidification ahead of us, followed by 6-12 months of parabolic advancement. ”
While some have speculated that the Bitcoin bull market may have already peaked, Checkmate believes such a scenario would be a significant departure from the “norm” of Bitcoin's past market cycles. He says it will happen.
“If we measure from the top of the cycle, we see the same chorus.
There is no doubt that establishing a bull market top here is a major departure from the Bitcoin norm. It can certainly happen, but we'll have to dig deeper to find out…
Prices have fallen by more than $8,250 month-over-month so far in April.
I'm hoping to get a text message from a bystander saying, “Hey, what's up with Bitcoin, it's gone down a lot, would you mind selling it?''
Checkmate identifies the year in which Bitcoin's halving occurs each year, and points out that corrections like the one BTC has experienced since March are not surprising. The analyst also notes that the end of a halving tends to be very bullish for Bitcoin.
“If you isolate only Bitcoin halving (2012, 2016, 2020, 2024), you can check the month-on-month performance in tables and graphs.
Month-over-month corrections of this magnitude are the norm rather than the exception, and year-ends are usually pretty strong (according to the first chart). ”
As of this writing, Bitcoin is worth $63,433.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me XFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
