Crypto analytics firm CryptoCon has confidently shared its predictions for an upcoming Bitcoin bull market, dismissing concerns of prolonged bearish trends or market recessions. According to the firm’s latest analysis, Bitcoin is currently in the middle-cycle correction phase and is poised for significant price growth, backed by a crucial indicator known as the Puell Multiple.
Historical Patterns Indicate Bull Market Ahead
CryptoCon highlights that the Puell Multiple, an indicator observed in previous Bitcoin cycles, has shown up just before major bull markets in the past. Notably, this pattern was seen in September 2012, 2016, and 2020, right before the start of Bitcoin’s most prominent bull runs. Despite recent market fluctuations, CryptoCon argues that Bitcoin is on the verge of another rally.
In a statement, the firm clarified:
“Bitcoin’s bull market is straightforward and inevitable. There is no recession, no bear market, no doom and gloom price movement. The stages of the Puell Multiple clearly show that we are in the midst of a mid-upper correction, right before the real bull run begins.”
Halving Cycles as a Critical Factor
CryptoCon also emphasized the importance of Bitcoin’s halving cycles in shaping market trends. According to the Halving Cycles Theory, the next “Red Year” that typically signals the beginning of a bull market will start on November 28, 2024, and continue through November 28, 2025.
With the upcoming halving event and historical indicators like the Puell Multiple pointing toward a new bull market, CryptoCon remains bullish on Bitcoin’s future. Investors and analysts alike are keeping a close eye on these crucial dates, as they could mark the beginning of another exciting period for Bitcoin.
