- CryptoCon’s “November 28th Cycles Theory” predicts a major BTC bull run starting November 2024.
- Historical patterns suggest a “mid cycle lull” for Bitcoin before this next major price surge.
For those committed to Bitcoin, the year 2024 might be pivotal. CryptoCon, a renowned cryptocurrency analyst, recently unveiled a BTC price model known as the “November 28th Cycles Theory.” At its core, this theory shines a spotlight on the potential for a significant price surge starting late in 2024.
Diving into the intricate workings of the Bitcoin market, one might ponder over the cyclical nature of its price action. But CryptoCon argues that the answer could be simpler than anticipated. The theory revolves around the date of Bitcoin’s first halving on November 28. He states, “Using 4-year time cycles against my Theory, produces Bitcoins exact behavior in time since its inception.”
He further illustrated this by referencing a chart shared on X. The chart paints a picture of Bitcoin’s behavior over time, hinged on the significant pivot point of November 28, accompanied by a margin of three weeks on either side. According to this, price action topographies like peaks and valleys in the Bitcoin market can be foreseen every four years, rooted around this date.
Historical data backs this claim. In 2020, Bitcoin experienced a “bull run launch,” sending its value skyrocketing past its previous all-time high (ATH) to establish a record $69,000 valuation the following year. If the theory holds, BTC’s next monumental movement will be in November 2024.
Understanding the ‘Mid Cycle Lull’
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However, before this leap, Bitcoin hodlers might need to exercise patience. CryptoCon’s model suggests that Bitcoin will undergo a “mid cycle lull.” He described this phase as one “where Bitcoin spends time around the median price (half of previous ATH), until the curve bottoms.”
Additionally, he notes that Bitcoin has probably marked its early peak, with a reference to the $31,800 highs in July. This notion might align with some other predictions in the crypto sphere. For instance, while there’s variance in opinions on BTC price predictions for the 2024 block subsidy halving, some analysts foresee modest gains before the event. Another analysis by Filbfilb, co-founder of DecenTrader, provided a $46,000 target for the halving, positioning $35,000 as the year’s end prediction.
Nevertheless, CryptoCon’s latest insights classify 2023 BTC price trends as a “bull market fakeout.” He explains that this makes it seem as if a bull market has initiated, only to see it not continue as expected.
With BTC/USD trading at $26,200 as of September 8, it remains intriguing to observe if the “November 28th Cycles Theory” will stand the test of time.
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