As we witness a significant movement in the artistic path of the crypto market and the blockchain world, we must address the current structure of the market as we approach the end of this year..
Today is the 66th day since the beginning of the major drop from the peak of $126,000 for Bitcoin, and the price has reached $82,000 with a change rate of 36%. Currently, Bitcoin is trading at a price of $90,000. If we compare the price behavior in previous years, we are on a logical technical path, and there are no indications of a collapse in the structure. Even if Bitcoin drops to the seventies or lower, you are in a significant correction needed to avoid excessive inflation and also to build a sound structure capable of rising technically in the future without gaps..
But the problem we are addressing is the change in the temporal structure of the market cycle. Will we witness a historical transformation and have we truly entered a new era of an extended cycle that differs from its predecessors? Anything is possible, and it is wonderful to witness this era and be part of this transformation and undergo a new experience from which we learn how to read the future of this market despite the significant losses incurred by traders since the dramatic drop on 10/10 in altcoins.
Halving: We are also approaching the date of the next halving for the Bitcoin core, which is the main point of comparison. Our upcoming halving is in 2028, about 28 months from now. How has the price behavior of Bitcoin and the market been in previous halvings?
Bitcoin has usually traded in a large consolidation range at the bottoms after the bearish season, and once it breathes a little upwards, the halving date arrives. This behavior has been repeated in all previous cycles, as shown in the attached picture of the Bitcoin core halving cycle.
From the above, we conclude that we still have a long period until the next halving, and we will witness a strong trajectory for Bitcoin during this upcoming period. It is impossible to determine the bottom from any side, as this depends on liquidity, supply and demand, and economic and political news around the world. However, it is fair to consider the bottom in the seventies, as it is the fair price that will allow Bitcoin to rise again to continue its artistic journey and bright future.
It is expected that the price of Bitcoin will reach approximately $200,000 during the next cycle according to technical models in wave analysis, and also due to scarcity and limited supply versus demand. The Bitcoin mining rate in 2028 will be 1.56 Bitcoins every ten minutes within the block, with a total of 210,000 blocks over 4 years, amounting to a total of 327,600 Bitcoins only. Meanwhile, during this cycle, and while we are in the middle of it, 655,200 Bitcoins will be mined starting from April 2024 until April 2028.
Bitcoin is a bright future and a smart investment. Do not treat the market in downturns as a failed market, as you cannot see the future with your own eyes. Success in this market is long-term and smart investment, managing emotions and feelings.
As for altcoins, try to invest in real projects with a future vision and an organized team with a clear vision.
If you are a trader, my dear, you need to learn trading strategies and technical analysis and not rely on others for entering your trades, as you will surely face disappointment and consecutive losses. No one will bear the responsibility for your losses but you.
Greetings to you, and I wish you good luck... Abu Karim...
