Bitcoin has been trading in a narrow range for more than 200 days. During this period, altcoins have also been staying at similar price levels, leading to a sense of stagnation in the market.

Historical background of price ranges

The longer an asset stays in a range, the greater the potential breakout. The analyst pointed to historical examples such as Bitcoin’s trading range from April to October 2020 (between $8,000 and $12,000) before breaking out into a bull run. Similarly, in 2015-2016, Bitcoin consolidated before experiencing a significant rise.

Current Price Action Analysis

Bitcoin is making lower highs, indicating a possible downtrend. However, there are also signs of a reversal as the recent movement indicates the formation of higher highs and possibly higher lows. If this trend continues, analysts believe that Bitcoin could reach around $70,000 in the coming weeks.

Altcoins stagnate

While Bitcoin has hit a new all-time high, altcoins have not performed as well and are lagging behind by a lot. The total market capitalization of altcoins is still about 50% below its all-time high. Analysts point out that if the total market capitalization of altcoins exceeds $660 billion, it may trigger a sharp rebound in the entire market.

Four-year cycle considerations

The analyst believes that the current market dynamics may not strictly follow the traditional four-year cycle, as liquidity plays a crucial role. An increase in market liquidity, especially through the US dollar, could lead to a significant increase in the price of Bitcoin.


Indicators of the upcoming bull cycle


According to recent charts, the market is approaching the final year of its current bull cycle, with significant price peaks typically occurring in late November or early December. Van De Poppe also compared past market cycles, predicting that the price of Bitcoin may reach a peak of $300,000 to $400,000 by 2026, with the specific increase depending on the market’s liquidity conditions.

Overall, although the market has temporarily stagnated, there may be greater volatility and growth opportunities in the coming months, and investors should pay attention to key breakthrough points in the market value of Bitcoin and altcoins.