Bitcoin’s Four-Year Cycle Weakens as Current Bear Market Sees Smaller Decline
JH Kim
Summary
- On-chain analytics firm Glassnode said Bitcoin’s traditional four-year cycle pattern is weakening.
- It said the current Bitcoin bear market is showing a much more gradual trajectory, with losses far more limited than during the previous three bear markets.
- Glassnode said this is also changing how the market interprets Bitcoin trends through the traditional four-year cycle framework.
Forecast Trend Report by Period
Bitcoin’s traditional four-year market cycle is weakening, and the current bear market’s decline has been far more limited than in previous downturns, according to an analysis.
On Sept. 23, on-chain analytics firm Glassnode said the current Bitcoin bear market has been much more gradual than the previous three bear markets.
Glassnode said the latest price action differs from the four-year cycle that had repeatedly defined the Bitcoin market in the past.
It added that the shift is also changing how the market interprets Bitcoin trends through the traditional four-year-cycle framework.
Bitcoin was trading at $84,411 on Binance’s USDT market as of 3:56 a.m. on Sept. 24, down 2.42% from a day earlier.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.