Aurelien Ohayon, CEO of investment strategy firm XOR Strategy, suggests that BTC follows the popular Wyckoff Cycle pattern. In this context, he expects Bitcoin to reach $45,000 by early 2023.

Aurelien Ohayon, CEO of investment strategy firm XOR Strategy, suggests that BTC follows the popular Wyckoff Cycle pattern. In this context, he expects Bitcoin to reach $45,000 by early 2023. A Wyckoff Cycle has four phases. These are: accumulation, markup, distribution and discount. After the discount phase, the cycle repeats with the accumulation phase, as Ohayon points out, as with Bitcoin's continued price recovery. What is Wyckoff Redistribution? The Wyckoff Redistribution cycle usually occurs during a prolonged price downtrend. This cycle starts in the absence of dominant traders. Without this support, the price of the asset will experience a volatile downtrend. This will attract short sellers who bet on this ongoing price action.