Bitcoin bullish this year? Popular crypto strategist unveils outlook for BTC based on four-year cycle

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A popular crypto analyst weighs in on Bitcoin’s potential gains this year based on BTC’s four-year cycle theory.

Pseudonymous crypto strategist Rekt tells his 330,900 Twitter followers that he thinks Bitcoin will likely bottom this year based on four-year cycle principles.

The cycle is based on Bitcoin’s halving event, when rewards to BTC miners are halved every four years. Bitcoin has historically ignited bull markets around the halving.

Says Rekt,

“The BTC bear market is coming to an end, according to the principles of the four-year cycle.

But a new candle three is about to form next.

Source: Rekt/Twitter

Rekt says that the third year of the cycle (candle three) is when Bitcoin traditionally digs into a bear market bottom while making decent gains.

“Candle three in 2015 saw a move of +234%. Candle three in 2019 saw a rally of +316%. Candle three in 2023 could see a bigger upside than most think.

Taking a closer look at the three candles from previous cycles, Rekt says there is a possibility that Bitcoin will almost double in value this year.

“The last three BTC candles saw rallies of +234% and +316%

But what if we ignore the three-wick candle?

Then in 2015 Bitcoin formed a +36% candle body and in 2019 a +97% candle body

If BTC rallies +36% in 2023 -> ~$22,300

If BTC rallies +97% in 2023 -> ~$32,400

Not far-fetched.

Source: Rekt/Twitter

Rekt adds that the four-year cycle also predicts when Bitcoin could reach a new all-time high.

“According to the four-year cycle theory, a new all-time high in BTC (ATH) would occur at the earliest in the fourth candle (2024) and at the latest in the new candle (2025).

If a new ATH were to occur in candle four of 2024, it would occur months after the April 2024 BTC halving.”

At the time of writing, Bitcoin is changing hands for $16,532, a fractional drop on the day.

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