Four-year cycles got correlated with Bitcoin halvings. At least three relatively short bull and bear markets have already happened.
The fluctuations in the price of bitcoin experienced in recent weeks could highlight that the 4-year cycles are reaching an endpoint. This information comes from the cryptocurrency market analyst, Willy Woo.
On Twitter, the specialist clarified that when bitcoin is trading above USD 41,300, it is likely that the first signs of the last cycle stage would be appearing, recalling that at least three relatively short bull and bear markets have already happened.
These four-year cycles are periods of fluctuation in BTC price that get marked by halvings (an event in which Bitcoin mining rewards get halved).
For some years, the price history has run in parallel with bullish periods followed by low stages, which has encouraged the existence of such cycles for those who closely follow bitcoin’s behavior in the market.
If users look at the behavior of bitcoin since 2010, users can note the different bullish peaks that prices have had and how they got automatically followed by bearish periods.
However, this status might be reaching an endpoint. Willy Woo highlighted that if the last cycle received verification, four-year cycles’ existence wouldn’t be possible.
Willy Woo spoke about the end of the cycles almost five months after he had already hinted at that possibility. In October 2021, he stated that price action could get predicted based on halvings but that now there will be an uncertain stage of supply and demand, which represents an obstacle to projecting the prices of the first digital asset.
Willy Woo Withdraws from Bitcoin Forecasts
Woo said that he suspended his market analysis newsletter that used to add some bitcoin price forecasts and predictions a few weeks ago. He assumed that the crypto active is already a currency whose price does not need deep followings.
Woo ended his bulletin by leaving some advice of a bearish forecast for the price of BTC, as the digital currency has kept a close correlation with the traditional market.
According to Woo, the immaturity of the Bitcoin market makes forecasting the price a difficult task, which is why he also stopped sending his newsletter. However, he pointed to new projects for this year.
However, Woo Highlighted he would be revealing new projects this year to keep his contribution to retail bitcoin investors and his nearly one million Twitter followers alive. The analyst’s Twitter is a social network that he used to share valuable thoughts from his newsletters regarding digital assets and their behavior in the market.
By: Jenson Nuñez
