Cryptocurrency expert Joao Wedson recently shared insights on whether Bitcoin’s bullish phase has concluded after the latest market downturn.
Wedson affirmed that Bitcoin’s 4-year cycle remains intact, with current price trends aligning closely with historical patterns.
“Some investors believe the 4-year BTC cycle is disrupted due to global liquidity changes. However, the Recurrence Fractal Cycle chart, which has been remarkably precise since 2015, indicates that the cycle persists,” Wedson explained in his remarks.
The analyst highlighted that his team’s Max Intersect SMA Model has successfully pinpointed all previous Bitcoin peaks. He remarked, “It’s remarkable how this model consistently identifies ATH levels in each cycle. The question now is: Will it succeed this time as well?”
Wedson reminisced about the market deleveraging phase of 2021 and noted how Bitcoin surged to a new all-time high during a period when numerous altcoins were also peaking.
He emphasized that on-chain data continues to emit strong signals and suggested that recent large-scale liquidations do not signify an end to the market cycle but rather its continuation.
- No widespread excitement is evident in the market yet.
- Certain metrics still indicate potential for a new all-time high (ATH).
- The cryptocurrency sector’s total value remains below Nvidia’s market cap, indicating room for growth.
- Mining fees and other on-chain indicators are at notably low levels.
Wedson wrapped up his commentary with these thoughts:
“Assuming the market has ended solely due to significant liquidation would be misguided. Historically, such events often mark bottoms. The renewed dominance of Bitcoin suggests continued activity for some time—perhaps another month or so.”
*This information should not be considered investment advice.