CandleFocus Analyst Justin Bennett Issues Bitcoin Alert, Says ‘No More’ Traditional Cycles for BTC – Here’s What He Means
2024-09-12
Author: Content Editor
Crypto analyst Justin Bennett warns that Bitcoin's historical cycle pattern may come to an end if the business cycle contracts. Bitcoin's cycles have traditionally followed a three to four-year pattern of bear markets followed by bull markets, but Bennett believes this may change. He suggests that Bitcoin's price action has historically followed key economic metrics, such as the Purchasing Managers' Index, which measures the health of an economy. In the near term, Bennett is closely watching whether Bitcoin can flip the key resistance level of $58,000 into support on the daily chart. However, Bitcoin's price has decreased by over 5% in the last two weeks and currently trades at $57,702.
Related News
Consumer protection watchdog warns about Tether's reserves Binance Tops CEX Volumes with $75.9B Weekly Trading Eve Frontier’s in-game economy will let players create real cryptos Trump to launch DeFi protocol next Monday Bitcoin and ‘One or Two Layer-Ones’ Will Outperform Market, Says Matthew Sigel – Here Are His Top Altcoin Picks Making A Profit From HashRate Markets During Market Contractions Three Indicators Screaming Bitcoin (BTC) Bull Market in Early Stages of Parabolic Advance, According to Analyst Our industry is in limbo. What’s going on? Arkham identifies the wallets of Ionic Digital, heir of Celsius Network’s mining operations Tennesse Republican pitches joint SEC-CFTC crypto oversight Bukele advisers said BTC adoption was ‘complete PR move’ — TIME reporter POPCAT surges as Kraken announces trading support Huge Altcoin’s Price Skyrockets as United Arab Emirates Signals Investment in the Company SUNDOG jumps 25% as whale buys $2m worth of meme coin Polygon PoS Leading the Way in $30T Tokenization of RWAs – Onchain Adoption on the Rise Ripple CEO Reacts to XRP’s Massive Milestone Floki Trading Bot Achieves $27M Trading Volume & 20K+ Users SUI leads the crypto market with a 27% weekly gain — What is behind the momentum? Mastercard Acquires Cybersecurity Firm Recorded Future For $2.65 Billion Is Tether really more profitable than BlackRock? Nigeria is undergoing a ‘real crypto dollarization event’: Nic Carter Privasea Teams Up with easeflow to Revolutionize Node Management Launch of cbBTC, WBTC competitor, sparks Justin Sun hypocrisy Analyst Justin Bennett Issues Bitcoin Alert, Says ‘No More’ Traditional Cycles for BTC – Here’s What He Means This Is Why SHIB Price May Not See $0.000025 in 2024 Northern Trust introduces digital carbon credit trading platform Mango Markets founder collaborates on CKS Systems's Solana-based unlimited orderbook Manifest Fuse Plugs Solana Token Into Energy Distribution DePIN Play 3 Alarming Red Flags Signal Chainlink (LINK) Price Decline Solv Protocol launches Bitcoin staking for cbBTC holders on Base Orbler Joins Forces to Drive Community Growth ‘Eve Frontier’ Survival Game Is Being Built on Ethereum, CCP Reveals Fhenix Partners with Celestia to Revolutionize Data Availability for Privacy-Preserving Apps PEPE’s Explosive 950% Gains Under Threat as Bears Take Over SUI Bulls Gear Up, Can They Push Through The $1.16 Ceiling? US demands Nigeria to release Binance executive as health worsens Cypherpunk Holdings goes all in on Solana, rebrands as SOL Strategies BREAKING: Massive Game Producer, Known All Over The World, Announces That It Will Build A Cryptocurrency Project And Issue Altcoin Polkadot price struggles amid bearish momentum: key levels to watch European Central Bank Drops Interest Rates Again as Bitcoin, Stocks Bounce Back JUST IN: Cryptocurrency Exchange Coinbase Announces Two New Surprise Altcoins to List on Futures ETH's underperformance tied to current crypto market structure: Coinbase 3DOS launches decentralized global 3D-printing service on Sui Crypto Payment Service Transak Moves to Hawaii Binance Coin (BNB) Price Prediction for September 12 Squid sinks its tentacles into cross-chain abstraction AirMoney Unveils Groundbreaking DePIN Hardware AirMoney Degn Device BREAKING: Binance Launchpool’s Next Altcoin Announced – Long Time Awaited Coinbase Issues Crucial Warning as Tokenized Bitcoin Launches Cardano (ADA) Long-Term Holders Offload Coins Amid Rising Profits Bitcoin price slips from $58K as US PPI, jobless claims surprise YieldNest Unveils First Liquid-Restaking Token on BNB Chain as Return-Boosting Strategy Gains Ground Nomic introduces Ethereum support for decentralized Bitcoin custody DeFi abstraction platform Infinit raises $6 million from investors including Electric Capital, Arthur Hayes' Maelstrom How TON turned the tide for blockchain gaming in 2024 Why Bitcoin Mining Produced an Empty Block at Height 860932 Today Ethereum Price Struggles After Metalpha's $90M ETH Sale Whale Transfers 200K Ethereum Worth $469M from Arbitrum to Binance Hawaii emerging as crypto hub following new crypto regulations Solana (SOL) Price Prediction for September 12 Shiba Inu Plummets 30,045% in Whale Netflows, What It Means Dogecoin (DOGE) Hit by Rare On-Chain Anomaly: What Happened? What ‘far-fetched’ scenarios could still send Bitcoin price to $0? Former FTX exec Ryan Salame withdraws bid to dismiss indictment following dispute over investigation into Michelle Bond Stablecoin Giant Circle Is Moving Its Headquarters to New York City ParaFi Capital to tokenize $1.2B fund on Securitize Revolutionizing Bitcoin Mining: The Power of Three-Phase Systems Gameloft Reveals 'Claynosaurz' Mobile Game Based on Solana NFTs Assertive Statement from Analyst for Bitcoin! "BTC Will Reach These Levels No Matter Who Wins the US Election!" Build-on-Bitcoin Trend Imports Another Concept from Ethereum: the DAO Bitcoin Exchange OKX Announces Listing of Circle-Issued Stablecoin SEC Signals That Ethereum Is Not Security Dogecoin (DOGE) Unmoved by Elon Musk’s Latest Cryptic Post Notcoin (NOT) Holders Return Strong, 60% Rally in Sight Alchemy Pay Supports BNB Ecosystem with New On & Off-Ramp Services GoPlus partners with Neo for node-level security on Neo X Sidechain XRP Price Skyrockets 7% as Grayscale Launches Dedicated Ripple Trust CFTC Has No Authority to Reject Election Contracts, Judge Says Are stablecoins crypto’s big success? Ripple Mints Another Batch of RLUSD Stablecoins: Report Bitcoin Warning Issued by Crypto Analyst Amid BTC Price Surge to $58,000 Sony’s Soneium Blockchain Taps Chainlink for Cross-Chain Infrastructure Hedera News: HIP-850 Empowers NFT Users with Dynamic Functionality for Web3 Use Cases Survey: Stablecoins on track to settle $5.3t in 2024 despite hurdles Crypto Fight Night Debuts in Singapore with Star-Studded Lineup, WBC-Backed Crypto Belt on the Line TADA Partners with TON Foundation to Integrate Web3 Technology into Ride-Hailing Crypto Bank Anchorage Digital Takes on Custody for ARK 21Shares Bitcoin ETF Here's Why Stablecoins Threaten Bitcoin Price Rally to $60K Arctic7 and Random Games Collaborate to Explore Content Development Opportunities in Unioverse Will Trump and Harris Debate Again? Polymarket Bets Say There's a 60% Chance Binance positions may generate short squeeze for MANA, GRT, AAVE Pump.Fun Dumps Fresh 9,940 Solana Amid Market Rebound eToro Limits U.S. Crypto Offerings to BTC, ETH, and BCH After $1.5M SEC Settlement $Pendle Jumps 13% to $3.59 After Announcement of $BTC Pools DFINITY President Sees ICP Computing Power Grow 500% Year-Over-Year Meta Pool Deploys a Liquid Staking Token on the ICP blockchain U.S. Election Betting: What's at Stake in Final (?) CFTC-Kalshi Showdown Here’s why ‘Solana killer’ skyrocketed 18% today SHIB Burns Deep in Red – What's Happening? Mining New Bitcoin Is More Difficult Than Ever. Here's How it Could Impact BTC Prices Bitcoin Price Analysis: BTC Is on its Way to $60K and $64K if it Remains Above This Level Ethereum (ETH) Price Recovery From 8-Month Low Might Be Rocky OSL Group Adds Solana to Trading Platform CoinFlip deploys Crypto ATMs in Yesway and Allsup’s stores across the US BREAKING! US PPI Data Announced! Here is the First Reaction of Bitcoin (BTC) and Dollar (DXY)! Hong Kong’s licensed crypto platform OSL set for brand overhaul Memecoin Bull Run: Dogecoin, Shiba Inu, Pepe Lead the Charge Robinhood Is Well Positioned as Investors Increasingly Prefer Crypto, Says Bernstein Royal Thai Police Recognizes Binance for Support in Combating Crypto Crime ? JUST IN! Grayscale Makes Huge XRP Move! A First in the US! MoonPay Secures Australian Registration for Crypto Exchange Services Court Sentences Missouri Man to 3 Years in Prison for Crypto and Tax Fraud Bitcoin Eyes $60K, Ethereum Targets $2,400: Can the Rally Last? Pendle Joins Top 100 Cryptos with New BTC Staking Features: Is $5 Next? 2.1 Trillion Shiba Inu (SHIB) in 24 Hours: What's Going On? Bitcoin Could Hit $125K by Year-End if Trump Becomes President, $75K if Harris Triumphs: Standard Chartered U.S. Consumers Say Crypto Is Here to Stay, Stablecoins Maybe Not: Deutsche Bank Binance analyzes the role of blockchain in the revolution of digital payments El Salvador Surpasses 5,800 BTC in Daily Bitcoin Accumulation NYSBA Says XRP Ruling Weakens SEC Wild West Claim Crypto Price Today: Altcoins Outperform Bitcoin and Ethereum ; Is a Market Shift Underway? Ethereum Attempts to Disentangle from Consolidation Phase at $2.3K Nuff Protocol x Eigen: Developing The First Universal Restaking Protocol GMX Launches BTC-USD Market Backed by Decentralized tBTC Token on Arbitrum ‘Just Need To Survive September’: Crypto Trader Says Bitcoin Primed for Months of Upside – Here’s Why Bitcoin Eyes $60K, Ethereum Targets $2,400: Can the Rally Last? Tonkeeper: the mobile app on TON integrates the Keystone Hardware Wallet AI Will Trigger a Global Energy Crisis: DePIN Has the Solution Bitcoin Miners Go BRRR, While Profit Margins Go Brrrr-oke Coinbase launches cbBTC, a wrapped Bitcoin token ? Bitcoin mining CEOs agree on $250k price target for 2028 halving Crypto market wrap: SUI, FET, PENDLE, NANO, NEM gain amid Bitcoin’s surge XRP Drifts Sideways And Stops Its Slide Above $0.48 LUNC Token Gains Strength After Breakout, Ready for a 567% Rally Layer 1 Blockchains: Overcrowded and Overhyped? The Real Story Zodia Custody taps Marinade Finance to offer Solana staking services Analysts Predict Possible Cardano Bull Trap Before Price Rally to $15 Toncoin establishes T-Fund to accelerate developments within the TON ecosystem India to recover $345m in taxes from Kraken, Huobi, and other offshore exchanges Binance Coin (BNB) Breaks Key Resistance But Buyers Step Back Binance Announces BNSOL Launch: Here's What You Need to Know Leverage in the Bitcoin Market Is Increasing Again Bitcoin Climbs Above $58,000, But Experts Say Bullish Sentiment Is Waning CNBC: Bitcoin price at $100,000 after the USA elections AI Coins FET, NEAR Rally as OpenAI Aims for $150 Billion Valuation Shaping the future of crypto: Regulation and collaboration are the key | Opinion Ark Invest buys $8.4 million worth of Coinbase shares amid post-debate dip Report reveals Bybit’s 2,700%+ token surge on day 1 listings Bitcoin to hit six figures regardless of who wins US election, Swan Bitcoin says The analysis of Messari on the state of the Cosmos blockchain Solana Price Poised To Cross $150 As Whale Interest Spikes Shiba Inu Eyes Double-Digit Gains as 2 Key Indicators Turn Bullish Zilliqa Launches Jasper Proto-Testnet with New PoS Consensus Mechanism XRP Eyes $9 as Stoch RSI Finally Breaks 14-Month Downtrend Dogecoin (DOGE) Price Readies for Next Big Move as Elon Musk Mentions Meme Coin Experts Predict Solana Price if Bitcoin Reaches $150,000 and $175,000 Top Three Altcoins to Watch as Bitcoin (BTC) Price Rebound Above $58k Anthony Scaramucci Teases His New Book on Bitcoin with Michael Saylor’s Foreword CEX.IO becomes latest crypto firm to resume UK operations after meeting FCA guidelines $20 Billion Mirage: Ethereum Projects Treasuries on Shaky Ground Cardano Bull Cycle: Analyst Outlines 5 Stages to All-Time High From MATIC to POL: what does this crypto migration mean for you? Experts weigh in Uniswap Price In Demand Zone: But Can it Reclaim $20 Mark? Cryptocurrency Exchange OKX Announced That It Has Delisted This Altcoin From Margin Trading! Stacks Strengthens Bitcoin Privacy in Asia Top Analyst Says Solana to Hit $4,000 Target If It Repeats Previous 51,250% Rally SUI hits monthly highs as Grayscale opens Sui Trust to accredited investors BTC Rises Above $58K Following CPI Data, BNB and ADA Jump by 6% (Market Watch) Ceffu Deposits Over 7,600 BTC to Binance in the Past Month, $38.6M Transferred in Latest Transaction Expert Clarifies XRP Confusion in Swift’s Latest Plan to Integrate Regulated Assets Analyst Sees Shiba Inu Cracking $0.001, Here’s the Breakout Timeline UAE Central Bank approves digital assets custodial risk insurance XRP Price Prediction: Crypto Whales’ $177 Million Buy Signals Rally As ‘Banana’ Telegram Game Rises, CARV Reveals $50 Million Accelerator Binance Announces Launch of Bot Services for Two New Trading Pairs! Bitcoin Exchange Binance Announces It Will Support This Altcoin's Network Upgrade and Hardfork The Beginner’s Ultimate Guide to Buying Bitcoin in 2024 $Pendle Jumps 13% to $3.59 After $BTC Pools Launch Indian Police Investigate Cryptocurrency Fraud Targeting Ex-Servicemen Ethereum Founder Vitalik Buterin Put This Altcoin On His Radar, Heaped Praise On It For The Third Time! Top DAO Projects Leading the Way in Social Engagement, ICP Leads Chartist Expects XRP 42,140% Rise To $227: Here’s Why BTC Holds Strong Above $58K and Targeting Key $60K Resistance Hong Kong Strengthens Crypto Regulation with New Oversight for OTC Trading Expert Says XRP FUD is a Strategy to Keep Retail Investors Away from Low Prices NBA Legend Scottie Pippen Issues Bullish Bitcoin Statement, Community Excited Bitcoin Just a Couple of Months Away From New All-Time High, Says Analyst Kevin Svenson – Here Are His Targets Bitcoin Bargain Hunters Active on Kraken and Coinbase, CCData Shows Gold Hits All-Time High While Bitcoin Struggles : Is Crypto Bull Run Over? Vitalik: L2s that aren’t at least ‘stage 1’ are dead to me WeWork founder’s crypto startup refunds investors after no token launch: Report Bitcoin Jumps Over $58K Amid Tech Stock Rally, SUI Outperforms Solana Trader Turns $80K into $1.2 Million BY Investing In This Memecoin —Then Loses It All Ethereum needs ‘refined messaging’ to entice Wall St — Attestant execs FTX and Alameda Unstake $24M in Solana : Is SOL Price at Risk? XRP Price Stalls in Range: Will a Breakout Come Soon? Can Sui Price Reach $2 As Grayscale’s SUI Trust Opens for Accredited Investors? China 6 months behind US on AI, says Google’s former region head Toncoin Gains 18% in 72 Hours: 3 Bullish Signs for Telegram Coin Chainlink Price Could Break Above $12 As SWIFT Unveils Global RWA Infrastructure Cardano (ADA) Gains Traction: Is More Upside Ahead? Can Toncoin Price Rally 80% Amid T-Fund Launch? Analysts Anticipate Altcoin Outperformance and Bullish Q4 Nigerian Agency Gets Nod to Freeze $330,000 in Crypto Users' Bank Accounts Ethereum Price Aims for Key Upside: Can Bulls Push Past $2,400? Dogecoin Vs Shiba Inu Vs Pepe: How Do The Top Memecoins Compare In Investor Profits? Top Crypto Payment Platforms for Businesses in 2024 Panic Selling? Short-Term Bitcoin Holders Retreat as Long-Term Investors Accumulate BTC Render could rally if it sustains an extended move above key resistance Uniswap price is poised for a rally if it breaks above the ascending triangle pattern Blockchain music startup Tune.fm raises $50M from Global Emerging Markets State Street To Add Bitcoin ETF Exposure Soon: Bloomberg Analyst Expert Says Holding 10,000 XRP Can Make You a Millionaire This Has to Happen for Bitcoin to Soar Past $58K: Santiment Crypto stocks recover from dip as polls say Harris won debate against Trump Analyst Reveals Next Target for Bitcoin Between $87,000 and $88,000, This will Usher the Start of the Super Bull Cycle Bitcoin whale transactions see ‘noticeable’ drop since March price peak Spot bitcoin ETFs see $43 million in outflows, breaking two-day inflow run Nvidia Stock Soars Amid US-Saudi Arabia Deal, AI Coins Recovery Ahead? Charity and Crypto: How Blockchain is Enhancing Transparency in Donations INJ Price Bounces Back: Can Bulls Drive It Back To $20 Next? ICP Price Triggered a Breakout: Can It Reclaim The $20 Mark Soon Bitcoin’s Sell-Side Risk Ratio Plummets Amid ‘Profit-Taking Exhaustion’ Bitcoin Price Rises Steadily: Will It Reach $60K Next? Tonstakers Lead TON Protocols with $186M as STON.fi Down 39.2% End Of The Road For NEIRO? Crypto Analyst Predicts Breakdown Below $0.13 US House Republicans probe SEC’s Gensler on political hiring claims CryptoPunks NFT Worth $1.5 Million Just Sold for $23,000—Here's How Japanese PM issues missile alert in wake of crypto ETF warnings Bitcoin’s Supply On Exchange Tightens: Could a New Bull Run Be Just Weeks Away? Coinbase Resumes Trading For New Polygon Token, POL Price Rally Ahead? U.S. Inflation Declines for 5th Month, Boosting Bitcoin Price Outlook Security firm warns Bing and DuckDuckGo users of ‘Etherscan’ phishing website Sellers Exhausted? Open Interest on Altcoin Plummets 55% From All-Time High Amid Market Shift 11% Of Bitcoin Supply In Coinbase’s Hands: Analyzing The Potential Risks ‘Run It Back’ – Crypto Analyst Predicts Massive Rallies for Ethereum and Solana, Says October Will Be ‘Lit’ Experts Explain How Ripple’s XRP Ledger Can Empower Institutions for RWA Tokenization Shiba Inu (SHIB) Sees Crucial Reversal, Toncoin (TON) Brutally Denied: What's Happening? XRP Forms Extremely Important Triangle Pattern