Ash Crypto Says Bitcoin Could Bottom in October if Past Pattern Repeats
Summary
- Ash Crypto said Bitcoin (BTC) could form a bottom around October this year based on past market cycles.
- He said previous cycles showed Bitcoin bottoming about 11 months after a monthly MACD death cross, and estimated that roughly seven months have passed in the current cycle.
- Still, he stressed that the analysis is only a scenario influenced by variables including past price action and technical patterns, macroeconomic conditions, liquidity conditions, institutional inflows and spot ETF flows.
Forecast Trend Report by Period
Crypto influencer Ash Crypto said Bitcoin could form a bottom around October this year based on past market cycles.
Writing on X on June 10, Ash Crypto said Bitcoin in previous cycles bottomed about 11 months after a monthly MACD formed a death cross.
The current cycle is now about seven months past that monthly MACD death cross, according to the post.
If history repeats, Bitcoin could bottom around October this year.
He added that the timing would also broadly align with Bitcoin’s four-year cycle, which typically appears before the next bull market.
Ash Crypto stressed that the analysis is only a scenario based on past price action and technical patterns.
He added that actual market moves are influenced by a range of factors, including macroeconomic conditions, liquidity, institutional inflows and spot ETF flows, meaning the same pattern may not necessarily repeat.
Bitcoin has recently remained under pressure as spot ETF outflows and weakening investor sentiment weigh on the market. Still, some analysts say the current phase may mark the later stages of the bear market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
