Cryptocurrency's Predictable Patterns: ISM Peaks And Bitcoin Halving Insights
Portfolio Pulse from Murtuza Merchant
Kevin Kelly, co-founder and Head of Research at Delphi Digital, has suggested that the cryptocurrency market is about to enter a new cycle. He highlighted the predictability of crypto market cycles, using Bitcoin as a reference. He noted that Bitcoin price peaks often coincide with indications of the ISM (Institute for Supply Management) topping out. Kelly also discussed the significance of Bitcoin's halving event and potential risks, including a possible modest selloff or price consolidation.
August 15, 2023 | 5:49 pm
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Bitcoin's price peaks often coincide with indications of the ISM topping out, and the timing of the next halving is set to occur when indicators like the ISM show signs of bottoming out. Potential risks include a possible modest selloff or price consolidation.
The analysis by Kevin Kelly suggests that Bitcoin is entering a new cycle, which could potentially lead to a price increase. However, potential risks such as a modest selloff or price consolidation could impact the price negatively. The timing of the next halving event, which is often associated with a price increase, is also a significant factor to consider.
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