The next six weeks are important for Bitcoin

According to legendary trader Peter Brandt, the next six weeks may be important for Bitcoin, the first and largest cryptocurrency by market capitalization.

In a recent tweet, Brandt shares his views on the Bitcoin cycle on harving events that occur almost every four years, reducing the speed at which new Bitcoin is created by 50%.

Brandt said that there could be a top tradeable in Bitcoin within the next six weeks. “According to how you view the Bitcoin cycle, the midpoint (+/- 1-2 weeks) – the top of trading could occur within the next six weeks.” The statement means that the next six weeks could present the last leg of a powerful gathering of Bitcoin prices before potential revisions.

Bitcoin, which fell to its $112,000 low on August 2nd, re-acquired the range for most of July and returned to trading above $117,000.

Bitcoin has recently traded at $117,656, up 0.89% over the past 24 hours, up 3.6% per week. Bitcoin’s latest record high hit on July 14th, exceeding $123,000.

Is Bitcoin Cycle dead?

Bitcoin is usually traded over a four-year price cycle, centering on half the events.

With each cycle, Bitcoin surged in the months following the harving event, eventually reaching record highs. Bitcoin then drops by nearly 70% to 80% from this peak, leading to the onset of a crypto price or “crypto winter” lull. Alternate cryptocurrencies follow a similar trend. Bitcoin then merges for a while, and its price usually rises as the next half approaches. The cycle then repeats.

However, the cycle often follows a predictable pattern, but appears to be completely broken or gone. Several factors have caused changes in the cycle, including Bitcoin ETFs, investor shifts and positive regulatory outlook.

Bitwise Cio Matt Hougan believes that the four-year cycle could end, but for it to officially die, Bitcoin needs to work well in 2026.