On Sept. 9, crypto trader and analyst ‘Daan Crypto Trades’ told his 382,000 X followers that this cycle is not like previous ones as BTC made a new high before the halving but has stalled since.
Technically, it's still ahead of where previous cycles would be relative to the previous cycle highs. The charts from the 2017 and 2021 bull market cycles line up almost perfectly with the current one, suggesting that markets are where they should be and the bull phase should commence over the next 12 months or so.Bitgrow Lab founder Vivek Sen posted a very similar chart depicting where BTC is in the current market cycle, and where it is likely to go.
In the previous halving years , Bitcoin enjoyed three straight months of upside across October, November, and December, the analystIt is currently very close to support levels and would need to reclaim $56,000 soon to register further gains.
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