Bitcoin has achieved its first positive weekly candle after experiencing five weeks of declines. This development signifies a significant rebound following an extended downturn. Numerous analysts are optimistic about this shift.
Some believe that the bear market may have concluded in February, suggesting that a more favorable trend could already be underway.
After enduring months of substantial capital withdrawals from the market, fresh encouraging indicators have surfaced. These signs bolster the aforementioned perspective.
The Significance of the 23-Month Bitcoin Cycle Theory
A recent evaluation by a seasoned trader has piqued the interest of cryptocurrency enthusiasts.
This analysis posits that Bitcoin generally reaches its lowest point precisely 23 months following its all-time high ($ATH) during each cycle.
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<img decoding="async" src="https://cnews24.ru/uploads/523/523331da5cecfb41df5b73e7736bae1f86a20cc9.jpg" size="4096×2304" alt="Months from $ATH to Bear Market Bottom. Source: Coinvo Trading’>Months from $ATH to Bear Market Bottom. Source: Coinvo Trading”>
The market has now reached exactly 23 months since its latest $ATH, aligning perfectly with historical cycle patterns.
“Bitcoin consistently hits its bear market bottom at precisely 23 months post-$ATH. We are currently at that mark, and it has never failed,” stated Coinvo Trading.
Peter Brandt, an experienced trader, remarked that this observation is a stronger argument than many other prevailing narratives in the market. The pattern implies that we might see an end to the bear phase in February and suggests recovery could commence next month.
Total market capitalization saw a resurgence yesterday, climbing by 6%, moving from $2.19 trillion to $2.32 trillion—a sign reflecting increasing investor confidence as many perceive opportunities following sharp declines in Bitcoin and altcoin prices.
Additonally, data from Google Trends indicates searches for “Buy Bitcoin” have surged to their highest levels since 2021—an indication of new investors entering the space!
BOTTOM SIGNAL?
“Buy Bitcoin” searches peak not seen since 2021 pic.twitter.com/8FIdav5slU
