While the recent movements in the Bitcoin price below $ 60,000 continue, the focus of the market has turned to where the possible bottom level may occur. Analyst Bob Loukas, who is closely followed in the cryptocurrency market, stated that Bitcoin follows a largely similar course to past cycles and new all-time highs may be seen in 2028.
Four-year cycle emphasis
Speaking in a YouTube review published on June 4, Loukas argued that Bitcoin’s four-year price cycle remains valid. Loukas stated that the market tends to say “this time is different” in each cycle, but the basic structure of the previous bull and bear markets is repeated this year. Bob Loukas stands out as a trader and market commentator in the cryptocurrency market, especially known for his cycle-based analysis.
Loukas emphasized that in every cycle, the view that “this time is different” comes to the fore in the market, but the current outlook does not differ significantly from previous periods.
According to the analyst, although Bitcoin has fallen below $60,000, it is still trading closer to its former peak compared to the bottoms of previous bear markets. Stating that the level of approximately $ 53,000 stood out as the midpoint of the cycle in the last four years, Loukas stated that this area is important in terms of both support and resistance, and can also be considered a strong buying area for the possible bottom of the bear market.
Loukas said that the cycle bottom usually occurs 10 percent below or above the 46th week of the cycle, while the current cycle comes to the 44th week. For this reason, the analyst stated that the bottom formation window is getting closer and that the current structure does not look different from previous cycles.
Cautious atmosphere remains in the market
However, uncertainty remains in the broader market outlook. While many traders maintain their cautious stance due to the lack of a clear return signal, the $60,000 level is considered to be decisive in terms of short-term market sentiment. Analyzes indicate that geopolitical and macroeconomic volatility also strengthens the wait-and-see approach in the market.
In its latest market assessment, QCP Capital stated that Bitcoin is currently moving in a narrow psychological corridor and that the course around $ 60,000 is important in terms of sentiment.
Market commentary platform Material Indicators also wrote in its latest assessment that the difference of opinion between those who think Bitcoin has bottomed and those who argue that this has not happened yet is one of the typical features of bear markets. This chart shows that investors cannot reach a common opinion on the direction.
2028 expectation came to the fore
Loukas predicted that the price rediscovery process in Bitcoin could come to the fore in 2028 after the current cycle is completed. Price discovery means that an asset reaches never-before-seen levels and the market seeks new equilibrium. This expression is used if Bitcoin is heading for new highs.
Mini dictionary: Price discovery is the period when an asset rises to new levels where it has not been traded before and the market tries to determine the new price range. During this period, support and resistance levels may be less clear compared to historical data.
Current data shows that a significant portion of analysts are avoiding calling a clear bottom in the short term. Therefore, although the $ 53,000 level attracts attention from a technical perspective, macro developments and investor psychology continue to be decisive on the direction of the market.
