A Crypto timing model that successfully predicted Bitcoin’s rise to a new price high outlines another bullish case scenario for the cryptocurrency market.
In May, the Crypto timing model by Weiss Crypto Ratings, a cryptocurrency tracking and analysis platform, outlined a bullish outlook for the asset. A week later, the asset hit a new ATH with a price value of $111,886.
This time, the model is painting yet another bullish case scenario for the cryptocurrency market. As seen on its official page on Twitter, now known as X, Weiss shared that its model forecasts an incoming trend pattern expected to occur in the last quarter of the year.
The Crypto timing model points to November as when the market is most likely to experience a 4-year-cycle high.
Is the 4-year market cycle still valid?
For starters, Crypto has followed a 4-year pattern—a market movement pattern driven by the Bitcoin halving event. The trend typically ushers the market into periods of major losses and gains.
As experienced during the 4-year cycle, an accumulation phase precedes a bear market, and a bullish phase follows right after. The 2011-2013 market cycle launched the trend, which has been observed for over a decade.
Although experts claim that the presence of institutional investors has disrupted the cycle, it remains to be seen how Bitcoin and the broader market perform in the months ahead.
Meanwhile, the big bull is trading at $103,091 at report time. The global crypto market correction brought a notable price pump recorded by a handful of top cryptocurrencies, including Bitcoin.
Bitcoin bulls appear to be making a much-needed recovery, as daily gains briefly surged, sending Bitcoin to an intraday high of $107,000 on June 9.
Glassnode describes the price jump as a move “likely fuelled by a wave of short liquidations,” adding that the negative funding rates from the previous week point to an increase in short appetite, resulting in today’s short squeeze.
