Bitcoin Patterns Hint at Potential Rally: Here’s When This Expert Expects BTC Price to Hit New Highs
Bitcoin’s market behavior exhibits a cyclical pattern known as the ‘Blue Year,’ characterized by distinct peaks and troughs. CryptoCon, a top crypto analyst, recently highlighted this phenomenon, noting the repetitive structure that Bitcoin follows during these specific years.
Moreover, this analysis suggests that despite recent market turbulence, Bitcoin may be poised for new highs in September. CryptoCon focuses on Bitcoin’s behavior during what he terms “Blue Years” – specific years in Bitcoin’s halving cycle.
These years consistently show a unique structure with two significant price peaks and periods of sideways trading. The analyst compared data from 2012, 2016, 2020, and the current 2024 cycle.
What you'll learn 👉
BTC’s Patterns and Unique Features
According to CryptoCon, each Blue Year cycle has demonstrated a similar structure. Two notable price peaks, referred to as “Second Early Tops,” are followed by consolidation periods. However, the current cycle has shown some distinct characteristics.
CryptoCon noted, “No cycle has ever been able to achieve ATHs in Blue Year like our current one has, which is why the correction is taking so long.”
This observation highlights the nature of the current cycle, potentially explaining the extended correction period Bitcoin has experienced.
August Bottoms and September Prospects
A key finding in CryptoCon’s analysis is the timing of market bottoms. He observed, “Every second early top (light blue circle) has bottomed around August, for which our latest August drop looks like a likely culprit.”
This pattern suggests that the recent price drop in August might mark a cyclical low. Looking ahead, CryptoCon proposes an intriguing possibility.
“The month that price makes new highs after that has been pushed forward each year,” he stated. Based on this trend, he queries, “New highs in September inbound?” This projection aligns with the cyclical patterns observed in previous years.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Read also: Kaspa (KAS) Price Reaching $3 Is Still a Bearish Prediction: Here’s Why
Halving Cycle Theory Remains Intact
Despite variations between cycles, CryptoCon remains optimistic about the overall trajectory.
He concludes,
“It’s great to see that despite regular differences, the Halving Cycles Theory and a top in late 2025 look like it may have never derailed.” This statement suggests that the broader Bitcoin market cycle theory remains valid.
CryptoCon’s analysis provides a fresh perspective on Bitcoin’s market behavior. By examining historical patterns, he offers insights into potential future price movements.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
