Weiss Crypto Predicts 4-Year High for Bitcoin in November

Weiss Crypto Ratings, a cryptocurrency tracking and analysis platform, has once again made headlines with its Crypto Timing Model. In May, the model accurately predicted Bitcoin's rise to a new all-time high (ATH) of $111,886, just a week after the prediction was made. Now, the model is forecasting another bullish scenario for the cryptocurrency market, with a potential 4-year-cycle high expected in November.

The Crypto Timing Model, as shared on the official Twitter page of Weiss Crypto, now known as X, suggests that the market is likely to experience a significant rally in the last quarter of the year. This prediction is based on the model's analysis of historical market trends and patterns.

The 4-year market cycle, driven by the Bitcoin halving event, has been a consistent pattern in the cryptocurrency market. This cycle typically ushers the market into periods of major losses and gains, with an accumulation phase preceding a bear market and a bullish phase following right after. This trend has been observed for over a decade, starting from the 2011-2013 market cycle.

However, the presence of institutional investors has led some experts to question the validity of the 4-year cycle. It remains to be seen how Bitcoin and the broader market will perform in the coming months, given the potential disruption caused by these investors.

At the time of reporting, Bitcoin was trading at $103,091. The global crypto market correction has led to a notable price pump recorded by a handful of top cryptocurrencies, including Bitcoin. Bitcoin bulls appear to be making a much-needed recovery, as daily gains briefly surged, sending Bitcoin to an intraday high of $107,000 on June 9.

According to Glassnode, the price jump was likely fueled by a wave of short liquidations. The negative funding rates from the previous week point to an increase in short appetite, resulting in today’s short squeeze. This analysis suggests that the market is currently experiencing a period of volatility, with short-term gains and losses being driven by investor sentiment and market dynamics.