A crypto timing model by Weiss Crypto Ratings, known for accurately predicting Bitcoin’s recent all-time high (ATH), now signals a possible market rally in November.
In May, Weiss forecasted a bullish trend that preceded Bitcoin reaching a record price of $111,886. The model’s latest update anticipates a 4-year cycle peak in the cryptocurrency market during the final quarter of the year, specifically in November.
This 4-year market cycle, influenced by Bitcoin’s halving events, typically includes an accumulation phase before a bear market and a bullish phase thereafter. This trend has been observed since 2011, though some analysts note that growing institutional participation could affect its consistency.
As of the report, Bitcoin trades near $103,091. The broader market has recently seen a correction followed by a price surge, with Bitcoin briefly climbing to $107,000 on June 9.
Blockchain analytics firm Glassnode attributes this jump to a short squeeze triggered by a wave of short position liquidations, fueled by negative funding rates and increased short interest in the previous week.