Bitcoin's Bear Market May Finally End in October, But How Low Will It Go?
Bitcoin's bear market has investors eagerly waiting for the cryptocurrency to finally shift back into a sustained uptrend. According to analyst Ali Martinez, if the 4-year cycle theory holds, BTC's final floor could arrive between October 6 and October 16 this year.
The recurring pattern is mainly centered on Bitcoin's halving, which occurs precisely every 210,000 blocks, or about 4 years. This concept 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.
Some analysts warn that holders may have to withstand a harsh final move south before the cycle bottoms, with predictions ranging from $49,000 to as low as $39,000. However, Crypto Lens issued an even more skeptical prediction, envisioning an 'inevitable final capitulation' to $39,000 by October, followed by a price skyrocket to $150K by February next year.
Other analysts have noted a striking parallel between Bitcoin's current market structure and that seen in the autumn of 2022, which was followed by a meltdown to around $16,000. However, it is essential to keep in mind that this collapse was driven largely by the demise of the once-prominent crypto exchange FTX.