4 things that can spark the next Bitcoin bull cycle

Bitcoin (BTC) has dropped almost 15% from its yearly high of around $31,000, with the current regulative crackdowns on Coinbase and Binance crypto exchanges and the Federal Reserves hawkish forward assistance accelerating its selloff.Still, Bitcoin is up 60% year-to-date (YTD), holding above a technical support level of $25,000. The previous 3 Bitcoin halvings (2012, 2016, 2020) have all preceded huge BTC price rallies and new all-time highs. Bitcoin cost performances given that the last three halvings.

Bitcoin (BTC) has actually dropped almost 15% from its yearly high of around $31,000, with the recent regulative crackdowns on Coinbase and Binance crypto exchanges and the Federal Reserves hawkish forward guidance accelerating its selloff.Still, Bitcoin is up 60% year-to-date (YTD), holding above a technical support level of $25,000. The previous 3 Bitcoin halvings (2012, 2016, 2020) have all preceded enormous BTC rate rallies and new all-time highs. Related: Why Cathie Wood is bullish on Coinbase stock and thinks Bitcoin will reach $1 millionBlackRock Bitcoin ETFBlackRocks Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC) has also improved confidence in a potential BTC cost rally in the days leading up to the halving.The financial investment firm, which handles $8.5 trillion in possessions, has a near-perfect ETF approval record with the SEC.”BTC rate “bull flag”Technicals reveal Bitcoin painting a clear bull flag pattern on its longer-timeframe (LTF) charts, recommending an upside extension of its total healing rally.BTC/ USD weekly cost chart. Still, Bitcoin will need to close decisively above $35,500 to start a bull cycle, provided it would still be a lower high compared to the cryptocurrencys previous bear market peaks.Interestingly (and at the same time to the bull flag pattern), BTC rate might be on the cusp of a breakout in its dominating inverse-head-and-shoulders (IH&S) pattern, as shown below.BTC/ USD weekly cost chart.

Related: Why Cathie Wood is bullish on Coinbase stock and thinks Bitcoin will reach $1 millionBlackRock Bitcoin ETFBlackRocks Bitcoin ETF application to the U.S. Securities and Exchange Commission (SEC) has actually also enhanced self-confidence in a prospective BTC rate rally in the days leading up to the halving.The investment firm, which handles $8.5 trillion in properties, has a near-perfect ETF approval record with the SEC.”BTC rate “bull flag”Technicals show Bitcoin painting a clear bull flag pattern on its longer-timeframe (LTF) charts, suggesting an upside extension of its overall recovery rally.BTC/ USD weekly cost chart. Still, Bitcoin will require to close decisively above $35,500 to start a bull cycle, offered it would still be a lower high compared to the cryptocurrencys previous bear market peaks.Interestingly (and at the same time to the bull flag pattern), BTC cost might be on the cusp of a breakout in its prevailing inverse-head-and-shoulders (IH&S) pattern, as shown below.BTC/ USD weekly rate chart.