Bitcoin gained 300% in year before last halving

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Bitcoin () is facing a “bottoming candle” in 2023, but BTC price action is still more than able to surprise the market.

In a tweet on Jan. 11, popular trader and analyst Rekt Capital predicted that BTC/USD could see “decent upside” this year.

Chart teases serious Bitcoin upside potential

Analyzing Bitcoin’s four-year market cycles around block subsidy halving events, Rekt Capital drew attention to 2023 being the deadline for its next “bottoming candle.”

Serious Bitcoin Teasing Chart Upside Potential Four-Year Bitcoin Market Cycles Around Half-Event Grant Blocks, Rekt Capital has drawn attention to 2023 being the deadline for its next "Background Candle."

With the next cut in half expected in 2024, the next 12 months are expected to experience a price floor, followed by a rally in the run-up to the event.

2024 forms the fourth candle in the current Bitcoin cycle, while 2023 forms the third. 2024 forms the fourth candle in the current Bitcoin cycle, and 2023 the third one." Candle 3 is a candle below in the 4-year BTC cycle.

But it can nevertheless generate a decent increase,' said Rekt Capital.

The possibility of Bitcoin taking traders by surprise is clearly visible in the four-year cycle chart. "Candle 3 in 2015 saw a 234 per cent increase.

Candle 3 in 2019 has recovered by 316%," he says.

*"Candle 3 from 2023 could display a better side than most people realize." Annotated graphics BTC/USD.*

Source: Rekt Capital, followed by Twitter.

Source: rekt capital/twittersome other comments on the channel brought market participants to equally optimistic conclusions.

“These have been the most profitable times to accumulate Bitcoin. The net unrealized profit/loss is still in deep capitulation terrority,” trading and analytics account Game of Trades wrote on Twitter on Jan. 11.

*The net profit/loss not realized is still in a deep fear of surrender," Game of Trades tweeted on January 11. Source: Games of Trades/Twitter*

2023 macro climate echoes GFC, warns analyst

Source: Games of Trades/Twitter2023 macro-climatology echoes the GFC, advises the analyst.

With the United States Federal Reserve still raising interest rates as inflation abates, concerns now focus on long-term policy implications.

Related: btc price 3-week highs greet us cpi — 5 things to know in bitcoin this week with the US Federal Reserve always increase interest rates as inflation goes down, concerns are now about long-term political impacts.

Commenting on a chart of U.S. savings trends, Gerli warned on Jan. 10 that conditions were ripe for a repeat of the 2008 Global Financial Crisis (GFC) in terms of recession.

Commentary on a graph of savings trends in the United States, Gerli warned on 10 January that the conditions were right for the 2008 global financial crisis (GFC) to recover in terms of recession.

10 the conditions were ripe for a repetition of the 2008 world financial crisis in terms of recession." the savings rate has just dropped to 2,2%, the bottom,' he said. "means the Americans are cash-strapped. The final time was in 2006-07. Immediately prior to GFC. Warning of major economic downturn.