Crypto market analyst and economist Willy Woo says that Bitcoin’s market cycles have completely changed. Woo also states that these cycles may develop differently in each period. In addition, Woo states that with the data provided, the current downtrend has come to an end.
Last Cycle and BTC
Last October, Woo shared his thesis, The Last Cycle, which argues that Bitcoin’s bearish and bullish cycles do not move in four-year patterns. In this thesis, Woo draws attention to the active distribution of Bitcoin after the price increase and the price decrease of BTC after this process.
However, with the influx of macro and institutional funds into the crypto market, the crypto market ecosystem is maturing significantly. Therefore, Bitcoin is starting to act more independently of these cycles. Currently, Bitcoin is showing an unpredictable rise. Experts and analysts mostly attribute this rise to the natural supply in the ecosystem and the strong correlation between the traditional market and the crypto market.
All macroeconomic factors affect the crypto market as well as traditional markets. In other words, there are now more factors that will affect the crypto market and crypto seems to have common trends with traditional markets. Experts state that for this trend, Bitcoin and other altcoins may proceed more in line with emerging markets.
BTC’s Solid Stance
Also, analysts say that when looking at Bitcoin’s charts, wavelengths are shortening. A broad analysis of the chart shows that Bitcoin held the price increase the longest in early 2010. The waves that follow are getting shorter and shorter. Thus, experts state that Bitcoin has now become more stable.
As inflation and interest rate hikes increase in traditional markets, so does the use of Bitcoin. Adoption and government acceptance of BTC is also on the rise. Therefore, experts report that Bitcoin is now unstoppable and should be seen as a cornerstone in the new world order.