CryptoCon Cryptocurrency Analyst stated in his latest market analysis that the current price of Bitcoin is reminiscent of December 2016. He further explained what he meant and provided information on what to expect from flagship crypto in the future.

“For Bitcoin, it’s September 2016 again”

CryptoCon mentioned in X (formerly Twitter) fasting that it is September 2016 again for Bitcoin. In this regard, he noted that the “Bitcoin trend strength prophecy” has been fulfilled. He explained that just like in September 2016, Bitcoin immersed in the support zone after medium-high.

To further support my position that flagship crypto reflects past trends, he noted that all months were the same in terms of entry into the support zone for alternating cycles. He also stated that the “pattern 3” has yet to fail, both in mid-cycle and bear markets. His accompanying chart showed that Bitcoin is currently in the last part of its reaccumulation zonejust before reaching the cycle peak, similar to the 2016 market cycle.

After his analysis, CryptoCon boldly stated that the cycle is not over, giving credence to the belief that Bitcoin will continue to reach novel highs and surpass its current level All-time High (ATH) $73,000, which it reached in March of this year. Previously, the cryptocurrency analyst assured that the decline in bitcoin’s price is just a petite drop and that the cryptocurrency will continue to rise, reaching $160,000 at its peak this bull run.

CryptoCon also noted that Bitcoin has experienced such volatile and “boring” periods in previous halving cycles just before reaching novel all-time highs in the year following the halving event. The crypto analyst had previously predicted that the cycle will peak in November 2025. This prediction is also based on the behavior of Bitcoin prices in previous halving cycles.

More hope for BTC investors

Cryptocurrency Analyst Mikybull Crypto recently also gave Bitcoin investors hope that the worst was almost over for the flagship cryptocurrency. Posts Xhe stated that Bitcoin’s Parabolic Rally is coming as DXY is on the verge of breaking out of a macro bear flag. The analyst also noted that the same scenario played out in 2017 and 2020.

In another Posts X, Crypto Mikybull stated that the next expansion of Bitcoin would take its price to $95,000. He added that Bitcoin displays bull flag while DXY is in a bearish flag on the macro chart. However, the crypto analyst is confident that the macro disbelief and fear is ending, and Bitcoin will be able to enjoy its parabolic run when it does.

At the time of writing, Bitcoin is trading at around $56,300, down over the past 24 hours, according to data data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com