CryptoComes Original Article
Prominent cryptocurrencies researcher and trader Willy Woo, advisor to LVL Bitcoin (BTC) bank, shared his views of the prospects of the next crypto market cycle.
When Pressure Reduction Creates a Resonance
According to Mr. Woo, every 'bull/bear' Bitcoin (BTC) cycle is triggered by selling pressure reduction. This reduction, in turn, is associated with a periodical decrease of Bitcoin (BTC) miner rewards or halvening.
The Bitcoin 4 year bull/bear cycle is caused by sell pressure reduction every 4 years by the BTC halvening. That impulse creates a resonance, like a slosh of water in a bath tub when you push it timed just right. The magic happens at the impulse. pic.twitter.com/wvYixTPV9w
— Willy Woo (@woonomic) August 9, 2020
Mr. Woo compared this reduction impact to the slosh of water in a 'bath tub'. The resonance from this event initiates a price upswing for Bitcoin (BTC) or the bullish phase of another cycle.
When asked about the exact time frameworks for the ongoing crypto market, Mr. Woo stressed that we can only witness the price dynamics 'impulse to impulse'. At the same time, it's impossible to calculate the length of Bitcoin (BTC) cycles from peak to peak.
The estimations about the sustained increase of Bitcoin (BTC) market size duration ignore the basics of the flagship cryptocurrency progress. Mr. Woo emphasized:
Some pundits say we are lengthening in cycles by measuring peak to peak, this is curve fitting devoid of fundamentals.
Bitcoin (BTC) Cycles May Resonate with Traditional Markets
Mr. Woo also outlined that the power of 'selling pressure' reduces from cycle to cycle. Eventually, the impact of halvening events will decrease and Bitcoin (BTC) cycles will look like ones in traditional markets.
Sooner or later, the Bitcoin (BTC) bullish/bearish rallies may evolve into long-lasting 10-year processes.
One week prior to Crypto Black Thursday, top-level crypto analyst and trader Michael van de Poppe admitted that Bitcoin (BTC) market cycles are getting longer due to the maturation of crypto segment.
With that being said, it may be more natural to expect new all-times high for Bitcoin (BTC) prices in 2023 or 2024, but not in 2020 or 2021, according to the estimations of Dutch expert.
