The Future of Bitcoin in the Eyes of Magic! BTC Cycles Explained
Here is my longterm view for the Bitcoin market. Before we begin, I have been attempting to post this from my phone, since I am traveling and don't currently have access to any other means of posting. Please excuse the technical difficulties. A complete view of the chart, as I see it, will be attached below, shortly after I post this.
As you can see, Bitcoin is in a very clear cyclical uptrend. As I've shown before, this uptrend clearly respects a specific curvature on the log chart (blue curved trendlines.) You may have heard that Bitcoin has a cycle every four years, but that is clearly untrue. To illustrate this, I have highlighted the cycles in different colors. The first cycle (in blue) lasted 47 weeks. The second cycle (in purple) lasted 129 weeks. The third cycle (in gold) lasted 211 weeks. Clearly, the cycles are not four years. I'm not sure hoe people concluded that, but they did. However, there is something IMMENSELY more interesting here. The cycles are on a perfectly linear rise! This is one of the most incredible things I have ever seen, in my eleven years as a technical analyst. What I mean by that, is that the time between cycles, when plotted on a graph, is rising in a trajectory that is perfectly linear. That means we can calculate, with a high level of certainty, when the next bull market peak will occur. Based on this linear rise in cycle duration, I have projected the the future bull market should peak after 295 weeks, in August of 2023. I have shown that on the chart (in green.)
Unfortunately, I cannot show this in a graphical representation on TView. I was able to plot it out on a chat by hand, but there is nothing that I can use in the TView software to show this. To the developers, it would be nice if we had a way to plot linear graphs, with standard X and Y axes, for studies such as this.
Knowing this, I can also estimate how much Bitcoin will be worth, in August of 2023. If it continues to follow the trajectory of the rising curvature on the log chart, we can expect that Bitcoin will be worth right around $150,000 in August of 2023. My expected general trajectory of the market is shown by the curve on the chart (in pink.)
As far as 2019 is concerned, I think the majority of the year will be spent between 3,000 and 5,000. That could potentially last into mid to late 2020, as we can see here on the log chart. Although I do believe that the bear market has ended, I don't expect the next bull market to begin until sometime next year.
Be sure to hit that follow button, and find me on Twitter, via the twitter link on my profile page, for more MagicPoopCannon content!
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
As you can see, Bitcoin is in a very clear cyclical uptrend. As I've shown before, this uptrend clearly respects a specific curvature on the log chart (blue curved trendlines.) You may have heard that Bitcoin has a cycle every four years, but that is clearly untrue. To illustrate this, I have highlighted the cycles in different colors. The first cycle (in blue) lasted 47 weeks. The second cycle (in purple) lasted 129 weeks. The third cycle (in gold) lasted 211 weeks. Clearly, the cycles are not four years. I'm not sure hoe people concluded that, but they did. However, there is something IMMENSELY more interesting here. The cycles are on a perfectly linear rise! This is one of the most incredible things I have ever seen, in my eleven years as a technical analyst. What I mean by that, is that the time between cycles, when plotted on a graph, is rising in a trajectory that is perfectly linear. That means we can calculate, with a high level of certainty, when the next bull market peak will occur. Based on this linear rise in cycle duration, I have projected the the future bull market should peak after 295 weeks, in August of 2023. I have shown that on the chart (in green.)
Unfortunately, I cannot show this in a graphical representation on TView. I was able to plot it out on a chat by hand, but there is nothing that I can use in the TView software to show this. To the developers, it would be nice if we had a way to plot linear graphs, with standard X and Y axes, for studies such as this.
Knowing this, I can also estimate how much Bitcoin will be worth, in August of 2023. If it continues to follow the trajectory of the rising curvature on the log chart, we can expect that Bitcoin will be worth right around $150,000 in August of 2023. My expected general trajectory of the market is shown by the curve on the chart (in pink.)
As far as 2019 is concerned, I think the majority of the year will be spent between 3,000 and 5,000. That could potentially last into mid to late 2020, as we can see here on the log chart. Although I do believe that the bear market has ended, I don't expect the next bull market to begin until sometime next year.
Be sure to hit that follow button, and find me on Twitter, via the twitter link on my profile page, for more MagicPoopCannon content!
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
Comment:
Comment:
That is the chart that I have been trying to post. Sorry for the technical difficulties.