For quite a long time now, cryptocurrency analysts have found the connection between Bitcoin’s market cycles and Dogecoin price action interesting. As Bitcoin continues to follow the same price patterns on a predictable 4-year cycle, the question arises: could DOGE’s next breakout pattern be the same?
Bitcoin’s predictable cycle and connection to Dogecoin
BTC’s 4-year cycle remains consistent, with the digital asset bottoming out approximately every 1,428 days. These cycle lows from an observation provide hints into Bitcoin’s market behavior.
From the low to the subsequent peak, Bitcoin typically takes around 1,064 days to hit its next top, as shown by the red vertical lines. Interestingly, the 2021 cycle featured a double top, further underlining Bitcoin’s cyclical nature.
Data shows that DOGE usually reaches its monthly high at the exact time of BTC’s high. If indeed Bitcoin has already seen its high for this cycle in early October, DOGE is likely to see its high around October 27th at the very latest. This has been the trend right from the creation of DOGE, and more interestingly, the coin often surpasses Bitcoin during the highs of every cycle.
Understanding the cycles and BTC/DOGE current market action
The correlation between Bitcoin’s and Dogecoin’s cycles suggests that Dogecoin may soon experience another significant rally. As Bitcoin reaches the end of its current cycle, marked by a peak, Dogecoin’s historical performance indicates a possible price surge in the weeks following Bitcoin’s peak.
Tracking the current market performance at the time of press, a comparison between DOGE and Bitcoin market performance noted a varied movement. According to the observation, DOGE has experienced a 4.17% price increase, currently trading at $0.1616. The market cap stands at $24.07 billion, reflecting a 4.18% rise. Trading volume in the last 24 hours surged by 79.37%, reaching $862.7 million.
A total supply of 148.94 million DOGE corresponds to the available circulating supply of Dogecoin. A price increase occurred for BTC, which reached $87,584.45 and demonstrated a 3.65% growth. DOGE experienced substantial price momentum according to the displayed price chart that reflected its major price increase. The market shows rising trading action as investor participation continues to grow based on current price movements.
