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Historical Trends Unveil Bitcoin Peak Timing in Current Bull Cycle

Since the price of Bitcoin broke its previous all-time high, it has shown immense momentum, surging even higher, surpassing the $72,000 price mark, while leading the charge to what is considered the “biggest bull run in history.”

Bitcoin Lengthening Cycles Beyond Previous All-Time High

Many crypto analysts predict the world’s largest cryptocurrency will peak within the next few months following the surge. Some have even pinpointed the exact timeframe in which this might happen in this bull cycle.

Rekt Capital, a cryptocurrency analyst and trader, has shared his insights on Bitcoin’s potential to top this bull cycle within the same timeframe as previous bull cycles.

According to Rekt Capital, when Bitcoin breaks its old peak, it usually executes a “Bull Market Top” between 266-315 days. Given that BTC surpassed its previous all-time high last week, 266-315 days might be the approximate time of the next bull market peak.

Bitcoin

Specifically, this could happen around late November 2024 or very late January 2025. Even though this cycle is accelerating, Bitcoin’s days above its old peak seem to be taking longer.

The post reads:

Bitcoin broke its old All Time Highs last week, the next Bull Market Peak may thus occur in 266-315 days. That is very late November 2024 or very late January 2025. However, as fast as this cycle may be, it appears that the amount of days that Bitcoin spends beyond past all-time highs is actually lengthening.

Drawing attention to the preceding bull cycles, the expert further emphasized that before topping out in 2013, “BTC’s surge lasted for 268 days.” Also, in 2017, it “topped out in 280 days,” indicating an increase of 14 days.

Meanwhile, in 2021, the crypto asset “rallied for 315 days before reaching its peak,” indicating a 35-day increase compared to 2017. Therefore, this historical trend shows that BTC has exceeded past peaks by an average of 14 and 35 days.

As a result, by adding the initial bull market peak timeframe of 266-315 days with the 14-35 days, Rekt Capital has pinpointed the coin to top out within 280 and 350 days. In particular, this could take place in the middle of December 2024 or in the middle of February 2025.

Is BTC Breaking Its Preceding Pinnacle Too Early?

Dennis Porter, the Chief Executive Officer (CEO) of Satoshi Action Fund, has revealed his optimistic view regarding BTC’s latest milestone. Porter mentioned that the asset reaching a new height marks the first time it has happened ahead of the halving event.

According to the CEO, Bitcoin is witnessing a massive “fund inflow from institutional players not seen in the past.” He added, “many states are now seeking to enact legislation supporting BTC.” Thus, he has urged the community to remain unwavering, as “history is being made.”

Bitcoin

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Will Strike Announce A Partnership With Apple At Bitcoin 2022? Here’s The 411

Is Apple ripe for bitcoin adoption? Something’s up with Strike’s CEO. Through Twitter, Jack Mallers seems to be dropping clue after clue. And the Bitcoin 2022 conference is next week in Miami. Last year, in the same event, Mallers himself announced that El Salvador would make bitcoin legal tender. Definitely one of the biggest news items of 2021. What will he and other guests of honor announce this time? 

Related Reading | Comparing Apple’s Growth With Bitcoin, Why This Expert Sets $700K As Long-Term Goal

Could bitcoin-only Strike be about to announce an Apple partnership? How would such gigantic news affect the market? Let’s analyze Mallers’ cryptic tweets and see what we come up with.

The Curious Case Of Jack Mallers’ Apple Tweets

It all started with what appears to be a teaser for Mallers’ still-untitled “Announcement Keynote” at Bitcoin 2022. “With Bitcoin as the monetary network, the financial system will be cheaper, faster, more innovative, and more inclusive,” the Strike CEO wrote. 

With #Bitcoin as the monetary network, the financial system will be cheaper, faster, more innovative, and more inclusive.

Two weeks 🗣🇺🇸#Bitcoin pic.twitter.com/9u9SkIVSdN

— Jack Mallers (@jackmallers) March 24, 2022

Ok, but what does it have to do with Apple? You saw it and you missed it. In the picture, Jack Mallers’ hat features an old-school Apple logo while he’s flipping the bird to a Chase ATM.

History rhymes…#Bitcoin 🍏 👀 pic.twitter.com/gEQzZvh6OV

— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) March 30, 2022

That’s not all, is he referencing the photo of Steve Jobs flipping the bird to an IBM building? That might seem like a stretch, but that’s only because we haven’t shown you the other set of Apple-related tweets.  First, the Strike CEO posted the classic Think Different, “here’s to the crazy ones” Apple ad.

pic.twitter.com/pG8w209uWV

— Jack Mallers (@jackmallers) March 28, 2022

The comments exploded, the ad’s relationship with the hat’s logo wasn’t lost on people. Everybody knows that the Bitcoin 2022 conference starts in a week or so and companies have been holding their announcements. Is something going on with Strike and Apple?

pic.twitter.com/Y4oi5PbK1a

— Jack Mallers (@jackmallers) March 30, 2022

Then, Mallers threw us a curveball. He posted the also classic “Got Milk” ad. Maybe Mallers has just been watching old-school advertisement.

pic.twitter.com/QTuMB9Nlth

— Jack Mallers (@jackmallers) March 30, 2022

But wait, then he tweeted a classic Steve Jobs speech in which the former Apple CEO references the “Got Milk” ads saying:

“The dairy industry tried for twenty years to convince you that milk was good for you. It’s a lie but they tried anyway. And the sales were going like this [signalizing downward]. And then they tried “Got Milk” and the sales are going like this [signalizing upwards]. Got Milk doesn’t even talk about the product – as a matter of fact, the focus is on the absence of the product.” 

And that’s where we are with Jack Maller’s Apple tweets.

Is Bloomberg Suggesting Something?

Does Bloomberg know something we don’t? First, they published an article titled “Apple Is Crypto’s Biggest Wild Card” in which they quote “Ric Burton, an early contributor to the Ethereum project” speculating:

“As crypto assets make up a larger portion of people’s net worth, they’ll prioritize security and privacy,” Burton says. “Cook has pushed those features from the beginning. Compared to other Big Tech players (Google, Meta), I trust Apple to do the right thing for people if it goes the crypto route.”

Yesterday, they published another article, this one titled “Apple Working to Bring More Financial Services In-House.” “The project has been dubbed “Breakout” internally, underscoring the idea of breaking away from the existing financial system,” the article says. It describes project breakout as:  

“A multiyear plan would bring a wide range of financial tasks in-house, said the people, who asked not to be identified because the plans aren’t public. That includes payment processing, risk assessment for lending, fraud analysis, credit checks and additional customer-service functions such as the handling of disputes.”

Does this point directly at Strike and Bitcoin integration? No, it doesn’t. However, it shows the direction that Apple is pointing to as a company. Their Apple Pay product is extremely successful and the company is looking into financial services.

BTC price chart on Bitbay | Source: BTC/USD on TradingView.com
Other Apple-Related Strike Tweets

The Twitterati has been cautious about the possibility of an Apple and Strike partnership. The evidence is circumstantial at best and there’s no point celebrating just yet. However, interesting information and theories are already circulating. These are some of the best ones:

Related Reading | Strike Launches New Feature To Allow Users Convert Salaries To Bitcoin

  • According to Dennis Porter, Senator Cynthia Lummis mentioned a big Strike announcement for next month. 

👀 BREAKING: Senator Lummis says, “@jackmallers and @Strike will make an announcement next month.” On their work with the Lightning network.

— Dennis Porter (@Dennis_Porter_) March 24, 2022

  • Bitcoin Magazine contributor Level39 believes that Strike will just announce they’re integrating “Apple’s upcoming Tap to Pay feature and make Bitcoin more usable and accessible for humanity.”

While it would be exciting if @Strike partners with Apple. Strike will likely integrate Apple's upcoming Tap to Pay feature and make #Bitcoin more usable and accessible for humanity.https://t.co/yixQakspxn

— Level39 (@level39) March 31, 2022

  • Bitcoin Archive found some bitcoin icons for the Apple OS, but, as it turns out, they’re at least three years old. Still, the icons exist.

Apple’s new #Bitcoin logos for their OS. It’s probably nothing… 👀

c:@hugodouchet pic.twitter.com/eK5OIHBc8y

— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) March 30, 2022

  • Investor James Lavish asks, “So, when Apple announces that it has integrated Bitcoin into ApplePay, are you still going to insist it is going to zero?” 

So, when Apple announces that it has integrated #Bitcoin into ApplePay, are you still going to insist it is going to zero?

— James Lavish (@jameslavish) March 31, 2022

And that’s where we are with Twitter-based information and theories regarding Apple and Strike.

Featured Image: The Apple hat from this tweet| Charts by TradingView

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Intel To Present Low Voltage, Energy Efficient Bitcoin Mining Chip At Conference

This could be huge. Intel plans to enter the Bitcoin mining space with a cleverly marketed “ultra-low-voltage energy-efficient” ASIC chip. Considering that the chip shortage severely delayed the next generation of ASIC miners, this is tremendous. And, more importantly, it opens up the door for Bitcoin miners manufacturing in the USA. And in the rest of the Western world, even. 

Related Reading | Why Did China Ban Bitcoin Mining? Here Are The Seven Leading Theories

In December, Raja Koduri hinted at Intel’s intention to get into the Bitcoin mining space. Even though he’s the chief architect and senior vice president of Intel’s architecture, graphics and software division, no one expected Intel to deliver so soon. 

Intel jumping into the #Bitcoin mining ASIC manufacturing is a huge. We need way more chip fab in the USA. It will result in:

– Improved National Security– Supply Chain robustness

And it will also result in less reliance on Taiwan, who is being threatened by China aggression.

— Dennis Porter (@Dennis_Porter_) January 18, 2022

Details are scarce. There’s nothing on Intel’s official site. A quick search reveals that “Access to additional search results for “bonanza” is restricted”. However, we have the 411 on the project that goes by the code name “Bonanza Mine.”

What Do We Know About Intel ’s “Bonanza Mine”?

The product will be an “ultra-low-voltage energy-efficient Bitcoin mining ASIC.” According to Tom’s Hardware, the page that broke the news, Intel will reveal their new chip at:

“The ISSCC conference is a yearly gathering of the best and brightest minds in the chip industry. This year, Intel has a presentation scheduled in the ‘Highlighted Chip Releases’ category to outline a new “Bonanza Mine” processor, a new chip described as an “ultra-low-voltage energy-efficient Bitcoin mining ASIC.”

Apparently, Intel has been developing the product since at least 2018, when they registered “a patent for a specialized processing system that uses an optimized SHA-256 datapath.”According to Tom’s Hardware, “Intel has a wealth of experience in hardware-assisted SHA-256 algorithms due to the use of these instructions in its CPU products.” 

This is huge news!

More competition in the hardware mining sector is welcome 🔥 pic.twitter.com/C7I1FQJxH6

— Dan Held (@danheld) January 18, 2022

A more recent indication of the company’s intentions came when the already mentioned Intel executive Raja Koduri “appeared on popular streamer Dr. Lupo’s show.” He told him point-blank:

“Being able to do much more efficient blockchain validation at a much lower cost, much lower power, is a pretty solvable problem. And you know, we are working on that, and at some point in time, hopefully not too far into the future, we will kinda share some interesting hardware for that.”

BTC price chart for 01/18/2022 on Bitstamp | Source: BTC/USD on TradingView.com
Why Is This Development Important?

Until now, ASIC Bitcoin miners manufacturing is controlled by Bitmain and Microbt, with Canaan, Strongu, and Ebang handling a minority of the market. All of those companies are Chinese. The chips are all made in Taiwan and South Korea. This poses a centralization problem for the Bitcoin network that seemed unsolvable until Intel’s soft announcement.

Now, the open-source Bitcoin miner that Jack Dorsey’s Block is working on makes a lot more sense. Theoretically, the silicon chip is the only part of an ASIC machine that can’t be bought in a hardware store. With that problem solved, by no less than an industry leader with immense manufacturing power, the sky’s the limit. If this whole thing materializes, expect a huge leap forward in the further decentralization of Bitcoin mining. 

Intel, a $220 billion industry leader, is preparing to launch ASIC hardware for bitcoin mining.

Bitcoin is a computer network. Every technology company will eventually plug themselves into it. https://t.co/pbTFiRqx0B

— Pomp 🌪 (@APompliano) January 18, 2022

Also, Intel’s announcement certainly legitimizes Bitcoin mining as a business to watch for the next 100 years. As podcaster Anthony Pompliano said, “Bitcoin is a computer network. Every technology company will eventually plug themselves into it.” With this announcement, Bitcoin not only gets Intel’s seal of approval. The giant company now has skin in the game. 

Related Reading | Intel, Microsoft Took 10+ Years to See Gains, Crypto Investors in Good Position

To close this off, let’s quote Tom’s Hardware one more time:

“For now, it isn’t clear if Intel will release the Bonanza Mine chip as a product for the public or if it remains confined to a research project. However, given that the chip is in the “highlighted Chip Releases: Digital/ML” track and Koduri’s comments, it’s logical to expect that these chips will be offered to customers in the near future.”

So, everything we said is not a done deal just yet. It smells good, though.

Featured Image by Badar ul islam Majid on Unsplash | Charts by TradingView