A popular crypto analyst, Merlijn The Trader, has released a “Bitcoin Bull Run Cheat Sheet” predicting the start of Bitcoin’s next major price surge. The cheat sheet analyzes Bitcoin’s past performance to identify repeating patterns.
Decoding Bitcoin’s Cycles
The cheat sheet breaks down Bitcoin’s previous two cycles into three phases:
- Red (Bear Market): Periods of significant price drops.
- Orange (Accumulation): Sideways trading, where the price consolidates before a major move.
- Green (Bull Run): Rapid price increases.
The analyst uses these phases to illustrate how Bitcoin’s price has moved over the past decade. Both previous cycles followed a similar pattern: a bear market, followed by accumulation, and culminating in a parabolic bull run.
Cycle 1 (2013-2017):
Started with Bitcoin peaking around $1,000. After a long bear market, accumulation occurred between $80 and $500, leading to a bull run that peaked near $20,000. This cycle lasted roughly 1500 days.
Cycle 2 (2017-2021): Began after the $20,000 peak in 2017. Another bear market followed, bottoming out around $3,000. Accumulation stretched into 2020, leading to a bull run that peaked near $69,000. This cycle was shorter, lasting about 1400 days.
Predicting the Future: Is the Final Phase Here?
The current cycle, which began with Bitcoin’s all-time high in November 2021, has already gone through its bear market phase (bottoming around $15,000) and a prolonged accumulation phase. According to the cheat sheet, we’re now entering the green phase – the bull run.
The analyst suggests this bull run could be Bitcoin’s biggest yet, potentially pushing prices to $250,000 – $300,000. The projected duration for this cycle is approximately 1300 days from late 2021. As of now, Bitcoin is trading around $108,260.
