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Bitcoin has remained stable around the $108,000 price mark in recent days. After recovering from a short retracement near $105,500 on Wednesday, Bitcoin recently tested $109,000 once more in the last 24 hours.
A well-known crypto analyst has unveiled a long-term “Bitcoin Bull Run Cheat Sheet” asserting that the cryptocurrency has now transitioned into the concluding phase that will result in significant price increases.
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Bitcoin Cheat Sheet Signifies Commencement Of Final Bull Phase
In a recent update on X, Merlijn The Trader shared what he termed the “Bitcoin Bull Run Cheat Sheet.” This cheat sheet provides an analysis of Bitcoin’s historical market trends, illustrating the various stages of bear markets, accumulation zones, and following parabolic bull runs.
The cheat sheet categorizes each of Bitcoin’s two former cycles since 2014 into three colored segments: red for bear markets, orange for accumulation, and green for bull runs. Merlijn’s chart illustrates this recurring pattern over the last decade, demonstrating how each bull market followed a similar cadence that commenced after an extensive consolidation period and culminated in a powerful price surge.
The initial complete cycle commenced with Bitcoin’s peak around $1,000 in December 2013. Following that high, the price entered a prolonged and arduous bear market that persisted into 2015. This red-box stage eventually morphed into accumulation, where Bitcoin traded sideways between $80 and $500 for an extended timeframe. The green bull run segment on the chart began around early 2017, ultimately concluding with a peak slightly below $20,000 in late 2017. According to the cheat sheet, the complete cycle from peak to new peak spanned 1500 days.
Bitcoin’s second cycle commenced after its December 2017 zenith. A long downturn followed, with the bear market phase dragging Bitcoin down to $3,000 by the end of 2018. The chart marks this juncture with another red box, followed by the orange accumulation zone that extended well into 2020.
The cheat sheet’s green box returned in late 2020, coinciding with Bitcoin breaking above its previous highs. The price surged throughout 2021, finally reaching a new all-time high around $69,000 in November of that year. This second complete cycle was shorter than the first and lasted approximately 1400 days from the preceding peak.
When Will The Upcoming Bull Run Commence?
The present cycle initiated with Bitcoin’s all-time peak in November 2021. Since then, the market has navigated its typical sequence. A steep decline in 2022, which bottomed around $15,000, signifies the bear market phase. This decline was trailed by nearly a year of sideways movement and gradual recovery leading up to early 2025. This is indicated as the orange accumulation box on the cheat sheet above.
According to the analyst, Bitcoin is currently in the next bull phase, and potentially the largest one observed yet. The chart forecasts a continuation along the long-term growth trajectory, potentially reaching the $250,000 to $300,000 range over the next year. Notably, the timeline for the entire cycle this time is expected to last about 1,300 days from late 2021 to completion.
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As of this writing, Bitcoin is trading at $108,260.
Featured image from Pixabay, chart from TradingView
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