Bitcoin is trading close to $60,000 after a daily drop of 5%, sitting roughly 50% below its all-time high of $126,000. Three widely circulated candlesticks suggest that the four-year cycle remains intact and that the deeper bottom of the cycle is still ahead.
According to analyst Jesse Olson, all previous cycles hit the bottom around day 900 after their halving. The current cycle reached day 775 this week. This leaves about 125 days, or roughly four months, before the historical bottom window opens, which could be around the $40,000 zone.
According to analyst Jesse Olson, all previous cycles hit the bottom around day 900 after their halving. The current cycle reached day 775 this week. This leaves about 125 days, or roughly four months, before the historical bottom window opens, which could be around the $40,000 zone.