Cryptocurrency analyst Joao Wedson has responded to whether the bull run is over for Bitcoin (BTC) following the recent drop.
Cryptocurrency analyst Joao Wedson commented on whether the bull cycle in Bitcoin has ended following the recent market decline.
Wedson stated that the 4-year Bitcoin cycle is still valid and that current price movements are largely in line with historical cycles.
“Some investors are saying the 4-year BTC cycle is over due to global liquidity. However, the Recurrence Fractal Cycle chart, which has been highly accurate since 2015, shows that the cycle is still ongoing,” Wedson said in his statement.
The analyst argued that the Max Intersect SMA Model developed by his team has accurately identified all Bitcoin peaks to date, saying, “It’s surprising that this model has accurately captured the ATH level in every cycle. The question is: Will it hit this cycle as well?”
Wedson recalled the market deleveraging process that took place in 2021, reminding that Bitcoin soon rose to a new all-time high during the period when many altcoins reached their peaks.
He also noted that on-chain data is still providing strong signals, and the recent major liquidation does not indicate that the market cycle is ending, but rather continuing.
Some of the points Wedson makes are:
Wedson concluded his statement with the following statements:
