Amid Bitcoin’s (BTC) ongoing consolidation just below the $60,000 mark, technical analysis and historical price movement hint at an imminent high for the cryptocurrency.
Notably, Bitcoin’s ‘blue year’ structure guides the timing of the upcoming peak, suggesting that history might already have offered clues for the next peak.
In this line, according to crypto analyst CryptoCon in an X post on August 15, the ‘blue year’ refers to a specific year within Bitcoin’s four-year halving cycle, characterized by a repeating pattern of price movements.
Each ‘blue year’ has typically seen two significant highs and two periods of sideways price action. While the specifics of each cycle have varied slightly, the overall structure has remained consistent across multiple cycles, including 2012, 2016, and 2020.
Bitcoin price analysis chart. Source: TradingView/CryptoCon
Bitcoin’s current cycle of 2024
In the current cycle of 2024, CryptoCon observed that Bitcoin has fo
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