Test

Bitcoin

Chainlink

Avalanche

<p>Bitcoin is down 1.5% over the last 24 hours to around $51,100, after briefly surging above $52,000 earlier this month. The move above $52,000 had some claiming the 4-year cycle that Bitcoin tends to follow was no longer valid. However, crypto analyst CryptoCon pushed back on those assertions in a recent tweet thread.</p>
<p>As CryptoCon <a href="https://x.com/CryptoCon_/status/1758913332373803139?s=20" target="_blank" rel="noopener noreferrer nofollow">explained</a>, “With the recent move to 52k+ prices, some have claimed the #Bitcoin 4-year cycle is now out of the question. Their evidence, the .618 cycle retrace. This retrace has marked the mid-top for each cycle, a point that comes in the middle of the cycle and brings large corrections (40 – 54%) and sideways periods.”</p>
<p>Indeed, Bitcoin had surpassed the .618 Fibonacci retracement level from its last cycle high, leading some to believe the cycles were broken. But CryptoCon contends otherwise:</p>
<p>“There is a chance it may be. The best way to measure these retraces is from weekly candle bodies, which allows us to include Cycle 1. When we do this, we find that cycles have always made two primary tops above the .618. This would have made 49k the first, and the second is in progress.”</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="554" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-1024x554.png" alt="" class="wp-image-439726" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-1024x554.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-300x162.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-767x415.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-1536x831.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-2048x1108.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-277x150.png 277w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-647x350.png 647w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-646-788x426.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>So in CryptoCon’s view, $49,000 was likely the first top above the .618 level for this cycle, and the move above $52,000 represents the second top which he says is typical based on previous cycles.</p>
<p>CryptoCon notes that “The amount that each cycle has risen over the .618 has been between 6 and 26%. This cycle is at 13.5%.” So while unusual, the move above the .618 retracement level does fall within historical norms. He also points out that even a weekly candle close occurred above the .618 level in 2016, “making our close above not out of the ordinary.”</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>In conclusion, while Bitcoin’s surge above $52,000 makes it appear like the 4-year cycle may be invalidated, the analysis from CryptoCon suggests otherwise. The cycles are still in play according to historical data, with the move above the .618 retracement level not entirely unusual. Still, Bitcoin faces a crucial test here to see if it can sustain above $50,000 or if a deeper correction is still ahead.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/bitcoin-bound-for-150k-these-key-btc-on-chain-metrics-point-to-potential-breakout/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Bound for $150K? These Key BTC On-Chain Metrics Point to Potential&nbsp; Breakout</a></li>
 <li><a href="https://captainaltcoin.com/how-one-trader-made-150000-with-just-198-ethereum-in-18-hours/" target="_blank" rel="noopener noreferrer nofollow">How One Trader Made $150,000 with Just $198 Ethereum in 18 Hours</a></li>
 <li><a href="https://captainaltcoin.com/avalanche-and-chainlink-climb-impressively-while-investors-anticipate-huge-returns-on-rebel-satoshis-dex-launch/%5C" target="_blank" rel="noopener noreferrer nofollow">Avalanche and Chainlink Climb Impressively While Investors Anticipate Huge Returns on Rebel Satoshi’s DEX Launch</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/has-bitcoins-4-year-cycle-been-broken-a-closer-look-says-no-as-btc-price-faces-crucial-test/" rel="noopener noreferrer nofollow">Has Bitcoin’s 4-Year Cycle Been Broken? A Closer Look Says No as BTC Price Faces Crucial Test</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Has Bitcoin’s 4-Year Cycle Been Broken? A Closer Look Says No as BTC Price Faces Crucial Test

Table of Contents

CaptainAltcoin

Other articles published on Feb 17, 2024

DeFi Sector Achieves Impressive Growth with Doubling TVL

Avalanche Braces for Major AVAX Token Release

Google’s Magika AI Goes Open Source – Empowering Cyber Defenders Against Malware Threats

Taiwanese AI Expert Warns of China’s Dominance in Information Warfare While U.S. Lags Behind

Pudgy Penguins Outpace Bored Ape Yacht Club in NFT Market Shakeup

A guide to wealth management in Singapore

Join our free newsletter for daily crypto updates!