Fun

Bitcoin Price Moves From 56 To 60-Day Cycle After Crash Below $100,000, What To Expect Next

News Feed - 2025-01-03 10:01:03

Este artículo también está disponible en español.


The Bitcoin price’s market dynamics have taken an interesting turn as the cryptocurrency adjusts its cycle patterns following a sharp declinebelow the psychological $100,000 price level. Crypto analyst Bob Loukas shared his perspective on social media platform X, noting a potential shift from a 56-day to a 60-day cycle. According to the analyst , this raises the question of whether Bitcoin could rebound to the upside from here or continue its consolidation for the next two months. Bitcoin Price Shift To A 60-Day Cycle


Cryptocurrency markets are influenced by cyclical patternsthat have become an important part of crypto analysts’ technical analysis. These cycles are defined by repetitive patterns of highs, lows, and consolidations and are used by analysts who look at past performance to predict future price action. These are often combined with technical indicators like Fibonacci extensions and retracementsand patterns of Elliot Waves.   Related Reading XRP Price Targets $13 After Completing Highest Candle Body Close In History – Details 1 day ago


In the case of Bitcoin, Bitcoin’s price movements in the current bull markethave been highlighted by a close mirror of previous cycles. According to technical analysis, the leading cryptocurrency has been playing out in a 56-day cycle for most of the current market cycle. This 56-day cycle was spotlighted by Bitcoin’s break over various price levels until it broke above the six-digit threshold at $100,000.


After breaking above $100,000, Bitcoin seemed to stumble at first but eventually regained a bit of momentum to reach an all-time high of $108,135 on December 17. Since then, however, Bitcoin has entered a correction phase, even falling as low as $92,800 just three days after reaching this all-time high.


As pointed out by crypto analyst Bob Loukas, this massive correction and consolidation in the past two weeks have prompted Bitcoin to move into a 60-day cycle. This change in cycle, although just by a few days, could have profound effects, and it remains to be seen how the market reacts. Source: X Was The Recent Decline Enough For A Reset?


A move to a 60-day cycle suggests a subtle but meaningful change in Bitcoin’s market behavior. At the time of writing, Bitcoin is about to start a new cycle count that will play out in the next 60 days. Two possible scenarios could play out from here over those 60 days.  Related Reading Weekly Chart Shows That Dogecoin Price Is Primed To Cross $11 In 2025, Here’s How 1 day ago


The first scenario is of a bullish momentumif the recent sharp correction may have already reset the cycle. In this case, we could see Bitcoin pushing up to new all-time highs in the next 60 days. 


The second scenario is less optimistic. It opens up the possibility of Bitcoin consolidating and trading within a narrow range for the next two months. 


At the time of writing, Bitcoin is trading at $96,146. If Bitcoin successfully transitions to a 60-day cycle and avoids another consolidation, it could pave the way for a recovery above the $100,000 level and bullish momentum throughoutQ1 2025. BTC price at $96,400 | Source: BTCUSD on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com

News Feed

3 memorable moments from Donald Trump’s ‘Mugshot’ NFT event
Brayden Lindrea4 hours ago3 memorable moments from Donald Trump’s ‘Mugshot’ NFT eventDonald Trump says he helped make “NFTs hot again” and even dissed his own political rival’s unofficial memecoin — sending
Luxury Auction House Sotheby’s Plans to Auction 104 Cryptopunks Worth an Estimated $20M
Luxury Auction House Sotheby"s Plans to Auction 104 Cryptopunks Worth an Estimated $20M On Tuesday, the British-founded American multinational luxury auction company Sotheby’
Former Canadian Prime Minister Mentions Bitcoin Alongside Gold as Alternative Reserve Currencies
Former Canadian Prime Minister Mentions Bitcoin Alongside Gold as Alternative Reserve Currencies Former Canadian prime minister Stephen Harper has mentioned bitc
FTSE 100 Company, Entain, Deploys Syntropy to Improve Global Network Performance
FTSE 100 Company, Entain, Deploys Syntropy to Improve Global Network Performance press release PRESS RELEASE.PALO ALTO – April 7th, 2022— Syntropy, a transformative We
Microstrategy CEO on Mainstream Bitcoin Adoption: ‘I See Evidence of a Lot More Institutional Adoption’
Microstrategy CEO on Mainstream Bitcoin Adoption: "I See Evidence of a Lot More Institutional Adoption" The Nasdaq-listed company Microstrategy sees “evidence of a lot more
Helen Partz12 hours agoTaiwan bans unregistered foreign crypto exchanges from operatingBesides local exchanges like Maicoin, major global crypto trading firms like Binance, Bybit and Kraken have also been serving custome
Trader loses 7-figure sum due to 0L Network hard fork
Zoltan Vardai10 hours agoTrader loses 7-figure sum due to 0L Network hard fork“Forking out wallets without community input is theft,” according to the trader, who also claims to be part of 0l Network’s marketing te
Bitcoin.com Celebrates Ethereum’s Birthday With $6000 Giveaway
Bitcoin.com Celebrates Ethereum’s Birthday With $6000 Giveaway July 30th marks the day, six years ago, Ethereum was launched. The Bitcoin.com Wallet, having ju
Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700
Israel Prohibits Cash Deals for Amounts Starting as Low as $1,700 New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Isra
Coinbase Patents AI Compliance System to Monitor and Flag Accounts
Coinbase Patents AI Compliance System to Monitor and Flag Accounts Popular U.S. cryptocurrency exchange Coinbase received a patent November 19, for an AI-driven compliance system
SEC will classify Ether as security, deny spot Ether ETFs — Michael Saylor
Turner Wright6 hours agoSEC will classify Ether as security, deny spot Ether ETFs — Michael SaylorThe MicroStrategy executive speculated that the SEC would consider Ether, BNB, SOL, XRP and ADA unregistered crypto asse
Binance exec arrested in Kenya, could face extradition to Nigeria: Report
Turner Wright8 hours agoBinance exec arrested in Kenya, could face extradition to Nigeria: ReportKenya’s police force reportedly arrested Nadeem Anjarwalla and may send the Binance executive to Nigeria to face charges