BITCOIN MARKET CYCLES

1. HALVINGS

Halving  1: 28 NOV 2012 | $12
Halving  2: 09 JUL 2016 | $658
Halving  3: 11 MAY 2020 | $8,572
Halving  4: 20 APR 2024 | $64,969
Halving  5: APR 2028 | Estimated

2. CYCLE BOTTOMS

Bottom1: 18 NOV 2011 | $2.05
Bottom 2: 14 JAN 2015 | $165
Bottom 3: 15 DEC 2018 | $3,233
Bottom 4: 21 NOV 2022 | $15,760
Bottom 5: 30 JUN 2026 | $58,524 (provisional)

3. CYCLE TOPS

Top 1: 04 DEC 2013 | $1,151
Top  2: 16 DEC 2017 | $19,345
Top  3: 08 NOV 2021 | $67,549
Top  4: 06 OCT 2025 | $124,720
Top  5: 2029 | Projected

4. BULL MARKETS

BULL 1: 747 DAYS | +56,046% | 561.5x
BULL 2: 1,067 DAYS | +11,624% | 117.2x
BULL 3: 1,059 DAYS | +1,989% | 20.9x
BULL 4: 1,050 DAYS | +691% | 7.91x
BULL 5: ONGOING (provisional)

BULL DURATION (DAYS):

C1: 747
C2: 1,067
C3: 1,059
C4: 1,050

AVERAGE (C2–C4): 1,059 DAYS

MAX DIFFERENCE: 17 DAYS

5. BEAR MARKETS

BEAR 1: 406 DAYS | -85.7%
BEAR 2: 364 DAYS | -83.3%
BEAR 3: 378 DAYS | -76.7%
BEAR 4: 267 DAYS | -53.1% (provisional)

AVERAGE BEAR DURATION (B1–B3): 383 DAYS

6. CYCLE STRUCTURE

C1: BOTTOM -> 376d -> HALVING -> 371d -> TOP
TOTAL: 747 DAYS

C2: BOTTOM -> 542d -> HALVING -> 525d -> TOP
TOTAL: 1,067 DAYS

C3: BOTTOM -> 513d -> HALVING -> 546d -> TOP
TOTAL: 1,059 DAYS

C4: BOTTOM -> 516d -> HALVING -> 534d -> TOP
TOTAL: 1,050 DAYS

AVERAGE (C2–C4):
BOTTOM TO HALVING: 524 DAYS
HALVING TO TOP: 535 DAYS

HISTORICAL PATTERNS

BOTTOM TO TOP (C2–C4):
1,067 -> 1,059 -> 1,050 DAYS
AVERAGE: 1,059 DAYS

HALVING TO TOP (C2–C4):
525 -> 546 -> 534 DAYS
AVERAGE: 535 DAYS

TOP TO BOTTOM (B1–B3):
406 -> 364 -> 378 DAYS
AVERAGE: 383 DAYS

TOP TO TOP:
1,473 -> 1,423 -> 1,428 DAYS
AVERAGE: 1,441 DAYS