Spring equinox for bitcoin cycle
On May 20, 2024, just nine days away, we will reach the "Spring Equinox" point in the cycle of Bitcoin halvings. This point is defined by the intersection of the multi-year power law trend (the thick yellow line) with the wave of decaying harmonic price oscillations (the thin lavender wave), which correlates with the four-year cycles of halving events. For Bitcoin's price, this signifies a transition from the "winter phase of the cycle" to the "summer phase of the cycle."
The last time these two lines intersected was on June 6, 2022, when Bitcoin entered its "winter phase." That was the event of the "Autumnal Equinox" at the price of 28.8k
Currently, we are still in the vicinity of this intersection point, which is situated at the level of 58.6k. The yellow area highlights the zone of long-term "fair price." It's worth noting that the trends on this chart have been constructed and modeled Bitcoin's price since the fall of 2010.
The forecast for the next third of the halving (blocks 840k-910k) anticipates a price increase from approximately 60k to 180k, suggesting a potential 3x growth in this cycle.
The last time these two lines intersected was on June 6, 2022, when Bitcoin entered its "winter phase." That was the event of the "Autumnal Equinox" at the price of 28.8k
Currently, we are still in the vicinity of this intersection point, which is situated at the level of 58.6k. The yellow area highlights the zone of long-term "fair price." It's worth noting that the trends on this chart have been constructed and modeled Bitcoin's price since the fall of 2010.
The forecast for the next third of the halving (blocks 840k-910k) anticipates a price increase from approximately 60k to 180k, suggesting a potential 3x growth in this cycle.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.