Analyst: Bitcoin Is Approaching the End of a Typical Mid-Cycle Correction
On September 20, according to CoinDesk, anonymous crypto analyst CryptoCon pointed out that BTC reached peak levels within its cycle in 2016 and 2020, followed by months of sideways trading before eventually breaking out upwards at the end of the year.
Bitcoin's halving event, which automatically occurs every four years, reducing the issuance of new coins by 50%, is widely believed to impact bitcoin's supply, creating scarcity.
This year, BTC peaked at $73,000 in March before retracing about 33% to a low in early August. CryptoCon pointed out that it is nearing the end of the typical mid-cycle adjustment.
“There's reason for concern about the worst-case scenarios, whether it's cycle top predictions or recession pronouncements,” he said. “At the same time, the cycle continues to play out as expected.”
“All signs point to a true bull market for Bitcoin in 2025,” he added.