As you know, bull cycles in crypto money markets are made up of halving that takes place every 4 years.
The account called Ecoinometrics compared the bull market in 2017 after the halving in 2016 to the bull market that started after the halving in 2020 and determined where we are now.
In the comparison made on Bitcoin and Ethereum, the similarity between the price movements drew attention.
Based on this data, we are in the region of a new ATH in Bitcoin if history repeats itself. In the coming months, we can see very steep rises in Bitcoin and Ethereum.
According to the analysis, when the cycle is complete, Bitcoin will be at $ 253,800 and Ethereum will be at $ 22,300. After the bear market that will start after the cycle completes, $ 42,000 will be the minimum for Bitcoin, while $ 1,350 will be the minimum for Ethereum.
What is halving?
In simple terms, Bitcoin miners earn a certain amount of Bitcoin as a reward for each 1 block transaction (approximately 1 in 10 minutes). This earned Bitcoin becomes the first Bitcoins produced and is given to the miners as a reward. Thus, miners carry out 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 miners, is called the halving..
This event, which takes place every 4 years, is considered the start of bullish cycles in Bitcoin.