
Bitcoin: Where in the Cycle Are We?
- The analyst examines Bitcoin's current position within the 4‑year cycle.
- Upcoming conference 'Investing Through the Cycles' in Miami this November is promoted.
- Bitcoin tends to form a low and a high approximately every 4 years – similar to the S&P 500.
- A 4‑year cycle does not make Bitcoin a bad investment; it reflects human psychology and liquidity patterns.
- The cycle refers to lows, not necessarily to highs.
- Measured from the last low (2022), we are on day 1,354; previous cycle bottoms occurred around days 1,430–1,440. We are approaching the expected cycle bottom.
- Measured from the peak, we are 304 days into the bear market; the average bottom is at 406 days – about ¾ of the way through.
- Historical bottoms: January 2015, December 2018, November 2022. An October 2026 bottom is plausible.
- The macro environment (three rate cuts, end of QT) strongly resembles 2019.
- Back then, there was also no rotation into altcoins and the top occurred during market apathy.
- The 50‑, 100‑, and 200‑week moving averages show exactly the same pattern as in the previous three bear markets: loss of the 50, then the 100, then a test of the 200.
- This time is not different – the charts are clear.
- We are in the final third of the bear market. Further downside is possible, but the long‑term outlook remains positive.
- Dollar‑cost averaging (DCA) is a sensible strategy for investors with a long‑term horizon.
- Critics of the 4‑year cycle will likely embrace it again once the bottom is in.






