Bitcoin historical chart patterns and trends show that Bitcoin has a four-year cycle, divided into bullish and bearish cycles. Most analysts view the crypto market as currently in the last bear market cycle. BTC price declined from $68.8k in November 2021 to $16.4k in December 2022 before now headed for over $40k.
Renowned analyst, Ali Martinez, shared a Bitcoin cycle chart showing BTC price patterns from 2014 to 2025. He stated that Bitcoin is designed to 'obey' a four-year cycle, which is driven by the Bitcoin halving event that occurs every four years. Bitcoin halving events usually cause a huge increase in the price of Bitcoin.
Martinez predicts that Bitcoin is currently in a bullish phase since January 2023 and will likely continue the bullish trend until December 2025. The price of BTC has increased by 170% in 2023 despite several legal constraints, regulatory challenges, and stricter monitoring.
The next Bitcoin halving is expected to take place on April 20, 2024, according to data counted by NiceHash. Bitcoin block reward will decrease from 6.25 BTC to 3.125 BTC. The price of Bitcoin has already started to increase in the last two months in response to the upcoming halving event.
The BTC price traded flat over the past 24 hours, with the price currently sitting at $42,827. The 24-hour low and high were $42,216 and $43,202, respectively. Further, trading volume has decreased by 7% in the last 24 hours, indicating a decrease in interest among traders.
The approval of the Spot Bitcoin ETF by the US SEC and the positive sentiment due to the rate cut by the US Federal Reserve are also factors influencing the rise in Bitcoin prices.
