This Bitcoin Cycle Theory Puts $350K in Focus Before the Next Crash

Crypto analyst Matthew Hyland expects Bitcoin to exceed $250,000 this cycle and says a later 70% bear market would need a peak of $350,000 or more, even though BTC trades near $82,000 today.

The case rests on a theory that this cycle runs eight years instead of four, which would put the top in 2028 and push the real downturn years out.

The Case for an Eight-Year Cycle

In a set of posts on X, Hyland pointed to a chart first shared on June 26 showing that the 2022-2026 stretch of bearish macro conditions, meaning the broader economic backdrop for risk assets, lasted twice as long as the 2014-2016 and 2018-2020 stretches.

Bitcoin’s cycle follows that backdrop, in the analyst’s view, so it stretched by the same factor. This is not two four-year cycles stacked together, Hyland argues. It is one eight-year cycle, and the July 1 low landed in month 44, which leaves roughly 52 months to run.

He also pointed to Bitcoin’s rise from roughly $69,000 to $125,000 as evidence that the current cycle still has room to run.

“BTC went from 69k to 125k. It is very likely it will exceed 250k+ which will further prove the 8-year timing,” the market watcher wrote.

Furthermore, Bitcoin dominance, meaning BTC’s share of the total crypto market, is elevated while altcoin dominance sits near a floor, the analyst noted. According to him, a typical mid-cycle correction and an ETH-BTC ratio that is not elevated fit the same pattern from 2016 and 2020, showing that the asset’s cycle timing has also doubled.

“Given the amount of support between 100k-125k going to $350k+ will be required to unlock a 70%+ bear market for Bitcoin,” he concluded.

Where Bitcoin Trades Now

Market data at the time of writing showed BTC up about 1.5% in the last 24 hours but down 4.5% across two weeks. Its 30-day gain is 8%, against a 26% drop from a year ago, and the OG crypto is sitting 35% below its record of over $126,000. Meanwhile, Bitcoin dominance is above 57% and ETH holds 10.5%.

As CryptoPotato reported earlier, BTC fell to a monthly low of $80,200 on Thursday after a rejection at $84,000, and total crypto market value dropped by more than $100 billion at one point. September inflation data that came in slightly above expectations weighed on prices, as did a slide in Asian stocks that left South Korea’s KOSPI down more than 18% in five days.