This article has been republished with permission from Binance News.
According to CryptoPotato, a technical analyst known as “CryptoCon” has proposed a Bitcoin halving market cycle theory centered around November 28. The theory is based on the dates of the first two halvings, which occurred on November 28, 2012, and July 9, 2016. CryptoCon suggests that four-year cycles can be extracted from these dates, with each cycle divided into accumulation, fair value and preparation establishment, bull market and new peak, and bear market phases. The analyst claims that each cycle so far has pivoted around 21 days before or after November 28, marking the bottom. Based on this model, CryptoCon predicts that Bitcoin will set a next early top 21 days before or after July 9, 2024, and the next cycle top will be 21 days before or after November 28, 2025. However, other theories argue that Bitcoin market cycles are not related to halvings, but rather to fluctuations in the global M2 money supply.