As you know, bull cycles in crypto money markets are shaped by halvings that take place every 4 years.
The account named Ecoinometrics compared the bull market in 2017 after the halving in 2016 with the bull market that started after the halving in 2020 and determined where we are now.
In the comparison made over Bitcoin and Ethereum, the similarity between price movements drew attention.
According to this data, we are in the region of a new ATH in Bitcoin if history repeats itself. In the next few months, we can see very sharp rises in Bitcoin and Ethereum.
According to the analysis, when the cycle is completed, Bitcoin will be at $253,800 and Ethereum will be at $22,300. After the bear market that will start after the cycle is completed, $42,000 will be the bottom for Bitcoin, while $1350 will be the bottom for Ethereum.
What is halving?
In simple terms, Bitcoin miners earn a certain amount of Bitcoin as a reward for every 1 block (approximately 1 in 10 minutes) transaction. This earned Bitcoin becomes the first ever produced Bitcoins and is given to the miners as a reward. Thus, miners both perform transactions (transfers and verifications) on the network and generate new Bitcoins.
The decrease in the rate of this Bitcoin produced by half, that is, the halving of the reward given to the miners, is called halving..
This event, which takes place every 4 years, is considered the beginning of bull cycles in Bitcoin.