Everyone keeps wondering when will this vicious cycle end? When will winter go away and Bitcoin will be embraced in the warm arms of summer aka the bull run? All of us are wondering and there’s no single, definitive answer for this. However, we have seen a pattern and you can look at these signs to know when you will be rich again. Let’s dive in!
Bottoms Up, Double Bottom
Brace yourselves because you might not be ready to hear this just yet.
If we were to look at previous trends then we can see that the crypto market dipped twice before the bull run began. Though it doesn’t have to happen but the market trends suggest so. If you were to take a quick look at any charts from 2014-16, you’d see that the price went down twice; once in 2015 and then again in August the same year.
Now if we look at the current chart we can see that it recently bottomed near the end of 2018. So does that mean will there be another one? We can’t say for sure but to us it seems like you might want to prepare yourself for another dip.
Litecoin is truly a LI(GH)TE coin
We have put this sign together after CoinDesk Market’s tweet
It looks like a similar development could be occurring now pic.twitter.com/fUBNbZq4FS
— CoinDesk Markets (@CoinDeskMarkets) March 5, 2019
It seems like just like before Litecoin will take the lead and pull out other alt coins. if we look at the charts then we know that Litecoin was indeed the light that pulled us out of the bearish tunnel. It broke out in anticipation of its own “halving” event. Halving is when block reward is reduced by half. Now Litecoin has once again been the first one to break out of this cycle and we are hopeful that Bitcoin and others will follow suit.
Bitcoin’s own Halving event
If we look at the last two market cycles then the price seems to dip a year before an halving event, after which it gets the push and starts building up for a year or two. If this keeps up then we could still expect to see a second bottom sometime in mid/late 2019, about 1 year before the next halving. Making the next bull run in swing in late 2021/early 2022.
`These signals compliment each other which makes us feel a little hopeful that there is something there. The best way to predict future is to look at previous trends however, with that being said, one cannot rely on them either. They do give you some clarity but doesn’t make it 100 percent correct either. Sometimes history DOESN’T repeat itself.
But if the market trends remain the same then we can expect to come out of this bear run in 2021. That means we are likely to see this stretch this year as well as next year.