May 9, 2024
Deciphering Bitcoin's Halving Expert Predicts Bull Cycle Peak
Bitcoin Halving

Deciphering Bitcoin’s Halving: Expert Predicts Bull Cycle Peak

Today, Bitcoin (BTC) experienced a dip below the $61,000 mark, hinting at a possible downward trajectory. However, Rekt Capital remains undeterred by this movement, asserting that prolonged consolidation between current levels and $70,000 post-Halving will realign the cycle with historical patterns. Based on past trends, Rekt Capital predicts that BTC could reach its bull market zenith between the middle of September and October next year. 

The analyst pointed out that during the 2015-2017 cycle, BTC hit its peak approximately 518 days after the Halving. In the subsequent 2019-2021 cycle, this peak occurred around 546 days post-Halving. By extrapolating these timelines, Rekt Capital suggests that Bitcoin’s peak this cycle might fall within the aforementioned timeframes.

Possible Retracement Before An Uptrend

Rekt Capital foresees a significant retracement in BTC’s value, potentially causing concerns among investors about the end of the bull market. However, the analyst advises against panic selling, emphasizing the cyclical nature of market movements. According to Rekt Capital, wise investors recognize moments of panic as opportunities to accumulate assets, as these phases often precede renewed uptrends.

Currently, Bitcoin’s price is undergoing a downward trend following a brief recovery earlier this week. It now hovers around $60,700 after failing to surpass the $65,500 mark. Both trading volume and market capitalization have declined by 2.45% and 2.20%, respectively, over the past 24 hours.

Source: BTCUSDT on Tradingview

Conclusion 

Rekt Capital’s analysis provides valuable insights into the potential timeline for Bitcoin’s peak in the current bull cycle, drawing from historical trends surrounding the Bitcoin Halving event. By examining past price movements and cycles, the expert forecasts a peak between the middle of September and October next year. Despite short-term fluctuations and possible retracements, Rekt Capital’s perspective underscores the importance of understanding market cycles and maintaining a strategic approach to investing in cryptocurrency.

Image by partystock on Freepik

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