The leading cryptocurrency Bitcoin (BTC) updated its all-time record on December 16, 2020, surpassing the record level of $20,000 set in December 2017.
Then, entering 2021 by breaking records, Bitcoin (BTC) made ATH many more times in 2021, when it entered the 30 thousand dollar band, and finally recorded a new record just above the 69 thousand dollar level on November 10, 2021.
After entering a downtrend, Bitcoin (BTC) accelerated its losses in May 2022. While many experts and analysts have started to comment that winter has come for Bitcoin, the famous analyst of the markets, Lark Davis, claims that a record will come after the winter for Bitcoin (BTC).
With Bitcoin and leading altcoins starting to recover a bit, the sharp declines in the cryptocurrency market are thought to have stalled.
With the recent declines, Bitcoin (BTC) continues to change hands more than 50% below the record level. However, the fact that Bitcoin has gained more than 5% in the last 24 hours relieves the worries in the current market to some extent.
Lark Davis, in his post on Twitter, claimed that a 2-year winter period is at the door for Bitcoin. Davis stated the following in his post.
"If our 4-year cycles for Bitcoin continue, a new record may come in 2024 after the 2-year winter period. I hope this will not happen, but we need to take this into account."
According to Lark Davis, the 4-year cycles of Bitcoin continue to follow each other at different price levels, but with similar rise and fall rates. For this reason, Davis states that in 2024, which will be the year of the halving of Bitcoin production, record rises may come, just like in 2020 and at the end of 2016.