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Our AI-driven analysis of Bitcoin’s cycles: the correlations between today’s market and every earlier year, cycle and bear market, with the measures and the macro data behind them.

Updated 7m ago

$73,664 price now -40.9% from the cycle's closing high 46% through cycle 4 517 days to the halving 402 days since the top Details

Windrose

Bitcoin's whole price history wound onto its four-year clock. One turn is four calendar years from the first block; the distance from the centre is the price, and every ring out is ten times the one inside it. Cycles that keep the same rhythm draw the same shape, one turn outside the last.

46% round
Year 1 Year 2 Year 3 Year 4 $1 $10 $100 $1k $10k $100k Projected low $71.9k, Jan 2027 (range $63.3k to $97.9k). The study's model, not a forecast. Next halving, about 12 Apr 2028: projected $101k (range $65.7k to $176k). The study's model, not a forecast. Cycle 0 top, 8 Jun 2011: $30 Cycle 0 low, 18 Nov 2011: $2.05 1st halving, 28 Nov 2012: $12 Cycle 1 top, 30 Nov 2013: $1.1k Cycle 1 low, 14 Jan 2015: $181 2nd halving, 9 Jul 2016: $642 Cycle 2 top, 17 Dec 2017: $18.7k Cycle 2 low, 15 Dec 2018: $3.2k 3rd halving, 11 May 2020: $8.8k Cycle 3 top, 10 Nov 2021: $67.8k Cycle 3 low, 22 Nov 2022: $16.1k 4th halving, 20 Apr 2024: $64.9k Cycle 4 top, 6 Oct 2025: $125k (so far) Cycle 4 low, 1 Jul 2026: $60k (so far) Now: $73,664
How to read it
  • Cycle 4 · 2025–2028, the turn being drawn now
  • Earlier cycles, the oldest the faintest
  • The study's projected line to the next halving, with its likely range. A model, not a forecast.
  • A cycle's top
  • A cycle's low
  • A halving
  • The dial runs clockwise from the top: each quarter is a year of the four-year block (2009, 2013, 2017, 2021, 2025)
Now
$73,664 46% round, year 2 of four
Tops since 2013 fell in
year 1 of the four 4 cycles
Lows since 2013 fell in
year 2 to year 3 4 cycles
Projected low
$71.9k Jan 2027range $63.3k to $97.9k
Projected at the next halving
$101k about Apr 2028range $65.7k to $176k

Daily closes since 18 July 2010, from the cycle study. A turn is four calendar years from 3 January 2009, so the halvings are free to drift round the dial. Point at the spiral for a day's date and price, or at a mark for what it is. The projected line is the study's own and moves as the data does; it is not advice and not a forecast.

Risk warning Bitcoin and shares are volatile, and their prices can fall sharply and stay low for long periods. Read the full risk warning

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