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UK Senior Trainee Actuary explains his encounter with Bitcoin, predicts a parabolic rise in coming months

John KumiBy 0Edited by John Kiguru 22. August 20223 Mins Read
  • According to the government Senior Trainee Actuary Scott Waygood, the best way to understand the Bitcoin price is to understand the “four-year cycle”.
  • Based on previous price data, there could be a parabolic surge towards the cycle peak, he added.

UK government Senior Trainee Actuary Scott Waygood has shared an interesting experience with crypto, and based on historical Bitcoin price data predicted a parabolic movement in the coming months. According to him, he opened a trading account with the money set aside for a trip to New Zealand to visit his family. He then tried crypto trading for the first time. His experience was quite interesting as his investment recorded a 10 percent surge one weekend before pulling back to hit his 5 percent stop loss. 

According to Waygood, he has followed the crypto market on daily basis since last year and even moved his trading account investment out of funds into crypto. In the last 12 months, his investment has surged by 70 percent, and still expects it to more than double by the end of the year. 

The halving and the price movement

Waygood explained that the best way to understand the Bitcoin price is to understand the “four-year cycle”. He believes that the long-term price movement of the asset centers around the halving event which occurs every four years. 

Firstly, there is a bull market phase where prices react to the event by rising steeply upwards. Secondly, there is a bear market phase where the market moves downward. Then lastly, there is a steady growth where prices follow the long-term trendline. 

Explaining the recent Bitcoin price movement

Waygood also attempted to explain the recent price movement with important key factors. He explained that news and observed price reactions that have followed important events are key determinants of the recent movement. 

This could be a reaction to news coming out of China relating to the tightening of restrictions preventing financial institutions from providing cryptocurrency-related services. The subsequent recovery of bitcoin prices could be a reaction to El Salvador’s adoption of bitcoin as legal tender and the launch of a new fund on Wall Street that tracks bitcoin prices.

A parabolic surge in the coming months

According to Waygood, the current market occurrence and price movement predict a price surge in the coming months. He mentioned that the recent price reduction and recovery could just represent a pullback to the long-term trendline when the long-term historical price trend is considered. Based on previous price data, there could be a parabolic surge towards the cycle peak. 

Would I bet my house, or retirement savings, that in the next few months, bitcoin prices would hit a peak in the 4-year cycle? Certainly not. Would I be willing to bet my holiday money on this? Yes, I am. Particularly as travel restrictions continue to thwart my plans for a nice family trip to New Zealand.

 

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

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