Crypto analyst and trader Ben Armstrong explains the date he believes the Bitcoin bull cycle will end.
The bull run is not over
Armstrong, known in the industry as BitBoy Crypto, tells 635,000 subscribers that Bitcoin is not yet over the mega-bull run, BTC holders should be prepared for the final because the king coin will fall quickly when it falls.
While the famous analyst admits that it is impossible to know exactly when Bitcoin will complete this cycle, he reveals that he believes it will happen within a certain period of two weeks.
“I know exactly when the Bitcoin bull run will end. It may end a week or two before or after, but a two-week period towards the end of September is exactly when you should leave. ”
According to what is the forecast
Armstrong says he took his forecast from Golden Bull Cycle Ratio, a chart created by TradingShot, a group that produces data on TradingView.
The chart is based on Bitcoin bull cycles of the past to predict how long future bullish cycles will last.
As you can see, in the previous two cycles, there was exactly 51-49% of the weekly candlesticks between the two different parts of the bull run.
51% of the bull run lasts until the Bitcoin halving occurs for every 210,000 blocks produced from the gold of the market. 49% of the bull run lasts from the halving date to the top of the market.
When you work on these dates, 504 days after May 11, 2020, which is the halving day… This gives you the date of 28 September. ”
While there is of course no guarantee that history will repeat itself, Armstrong points out that this cycle is eerily similar to 2017, which means that Bitcoin’s true parabolic rally has not yet begun.