Bitcoin Bottom Date Predictions Point to October
The Bitcoin market has been in a bearish phase since its all-time high of over $126,000 in October last year. The asset has been trading around $64,000 and investor morale is low.
According to the 4-year cycle theory, which is centered on Bitcoin's halving that occurs every 210,000 blocks or about 4 years, the final floor could arrive between October 6 and October 16. This theory suggests that the peak of the bull run arrives 12 to 18 months after the event and is followed by a sharp decline due to selling pressure and loss of momentum.
CryptoPotato reported that BTC's past behavior across different stages signals a potential bottom between October 4 and October 17, which aligns almost perfectly with Ali Martinez's forecast. However, some analysts predict that the price could fall to $49,000 before entering an accumulation phase or even as low as $39,000 in an 'inevitable final capitulation.'