Crypto analyst Matthew Hyland said Bitcoin could face a deep bear market in the coming years, with a drawdown of 70% to 80%. He argued, however, that strong support in the $100,000 to $125,000 range could limit how soon such a decline can happen. In his view, Bitcoin may first need to climb to $350,000 or even higher before there is enough room for the next major correction.
Hyland also said the current cycle may last eight years rather than the traditional four-year pattern often discussed in the market. He linked that view to a macro headwind environment that, according to him, has lasted twice as long as in prior cycles. Based on that timeline, he expects Bitcoin could reach its cycle top in 2028.
According to BlockBeats, crypto analyst Matthew Hyland said in a recent post that Bitcoin could go through a deep bear market in the coming years, with losses reaching 70% to 80%.
He added that heavy support between $100,000 and $125,000 means Bitcoin may need to rise to $350,000 or higher before the next major pullback has room to unfold.
Hyland also said this cycle could last eight years instead of the traditional four-year cycle. He attributed that view to a macro headwind environment that has lasted twice as long as in previous cycles, which he said has extended Bitcoin’s cycle timeline. He expects Bitcoin could top out in 2028.
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