Crypto Analyst Predicts Bitcoin Bottom Using 23-Bar Theory
- A pseudonymous analyst, @cryptocupra, has shared a prediction for the Bitcoin price bottom using a “23-Bar Theory.”
- The theory suggests that each Bitcoin bear cycle bottom is predicted by a sequence of approximately 23 monthly bars.
- This pattern was observed in past cycles, including the bear markets of Bitcoin in both the years of 2014 and 2018.
- The most recent application of this theory was during the Bitcoin bear market in late-2022, where it also held true.
The analyst’s theory uses historical patterns to predict Bitcoin’s price movements, suggesting that after completing a cycle of approximately two years (23 monthly bars), Bitcoin enters an expansion phase leading into a bull market.
If this historical pattern continues as expected, Bitcoin may have already reached its bottom and could be poised for another upward trend according to @cryptocupra’s analysis using the “23-Bar Theory.” (Source)
