The 2nd highest anniversary will be closed in 15 years

Yesterday's cryptocurrency market crash caused the price of BTC to drop 10% in 2 hours. However, such volatility – typical of the digital asset class – does not surprise long-term investors.

This is especially evident when considering the entire history of the Bitcoin network and its ancient cryptocurrency reputation.

BTC is strong at $43,000 despite the crash

As famous analyst @therationalroot pointed out on X (Twitter) yesterday, despite the market crash, the price of BTC is still very high. Yesterday's close to $43,000 is the second highest close for Bitcoin's price. This is taken into account when looking at the anniversaries of the ancient blockchain network. The Bitcoin network is now 15 years old.

In addition, the analyst published two other important charts. The first is an update of the famous pie chart of Bitcoin's 4-year cycles. If historical charts are to be believed, with the beginning of 2024, the price of BTC is expected to start a 2-year bull market.

On the other hand, the second one is the chart of the expected Bitcoin halving in April 2024. This milestone for the BTC supply is now 92% complete.

BTC price on the 15th anniversary of the network

Looking at the chart detailing the Bitcoin price recorded on each of the network's 15-year anniversary, we see that yesterday's close was the second highest ever. In 2022 alone, the BTC price was at $46,451, higher than yesterday's $43,450. The remaining 13 days of formation have ended with low prices for the ancient cryptocurrency.

Interestingly, 12 months ago, in 2023, the price of BTC was $16,670, even lower than the latest recorded in 2021. Additionally, it was only $1,500 higher than the January 3, 2018 price. After Bitcoin reached its historical ATH around $20,000.

In addition, in the last two cycles, it can be seen that the macro bottom (red circles) which occurred after a bear market of about one year, later, the Bitcoin network brought high valuations (green circles) in the next 3 anniversary. Yesterday was just the first.

If the pattern of these cycles continues, it can be assumed that in 2025 and early 2026, the price of BTC will be higher than yesterday's $43,450.

Bitcoin spin cycles and half

In addition to the BTC price chart for the 15th anniversary of the Bitcoin network, @therationalroot has also updated two other major charts. The first refers to the circularity of Bitcoin's price action when interpreted in 4-year cycles. At the beginning of 2024, Bitcoin should enter a long-term bull market, which is about 2 years in history.

The spiral chart is divided into 4 areas. The top two quadrants represent 2-year bull markets. The lower right quadrant is the 1-year bear market. Meanwhile, the bottom left is the one-year collection period after subtraction.

If Bitcoin's 4-year price action cycle continues, it will reach the peak of the current cycle at the end of 2025. This marks the beginning of a 2-year bull market, after the main phase has started to decline (blue line).

Half fitting is covered in the last charts published by the analyst. Accordingly, BTC halving is already 92% complete. According to the latest information, the event is expected on April 17, 2024.

If we look at the previous 2 cycles, we can see that the last 8% (or about 100 days) has produced a very different BTC price action in the past.

In the year In 2016, the price of BTC increased significantly with the expectation that it would be halved. On the other hand, there was a correction after the event, after which Bitcoin started a real bull market.

In turn, in 2020, the Covid-19 crash caused the BTC price to temporarily lose 50% of its value. However, Bitcoin quickly recovered and stabilized in the $8500-$9500 range during the halving and for the next 3 months.

After BTC price broke out of this range, it re-entered a long-term bull market. This brought the current all-time high to $69,000.

Click here for BeInCrypto's latest crypto market analysis.