Recently, prominent cryptocurrency expert Rekt Capital shared his thoughts on Twitter about when the next Bitcoin price summit might occur. He underlined the importance of the Halving cycle in shaping Bitcoin’s market trend.
The Bitcoin Halving is expected to take place sometime between today and tomorrow, on April 20. During this period, Bitcoin’s market activity has been relatively subdued. Currently, the cryptocurrency is priced at $64,578.
Analyst: ‘When Could Bitcoin Peak In This Bull Market?’
Based on Rekt Capital’s assessment of past trends, we can expect Bitcoin to reach its peak in a bull market approximately 518 to 546 days after a Halving event. Using this timeline, the possible date for the next bull market peak is estimated to be around mid-September or mid-October 2025.
According to Rekt Capital’s analysis, Bitcoin’s market trends indicate a faster progression through its usual cycles, with new record highs reached about 260 days earlier than previous patterns suggest.
Despite this apparent acceleration, Rekt Capital noted:
For the past month, Bitcoin has been undergoing a pause or pullback in its advance, which is commonly referred to as a Pre-Halving Retrace. This means that Bitcoin’s price growth has slowed down and is currently decelerating by approximately 30 days compared to the previous rate of around 260 days. Essentially, the Bitcoin market is taking a break before continuing its upward trend with potentially shorter cycles.
An additional perspective put forth by Rekt Capital is called the “Accelerated View,” which considers the timeframe between Bitcoin surpassing its prior high and the predicted peak of the bull market.
Based on Bitcoin reaching new record highs in March, this view predicts that the peak of the next bull run might occur somewhere between December 2024 and February 2025.
#BTC
When Could Bitcoin Peak In This Bull Market?
Historically, Bitcoin has peaked in its Bull Market 518-546 days after the Halving (Chart 1)
This is how typical Bitcoin Halving Cycles have progressed
So if history repeats…
Next Bull Market peak may occur 518-546 days…
— Rekt Capital (@rektcapital) April 19, 2024
BTC Price Dynamics Amidst Market Fluctuations
Currently, Bitcoin (BTC) is experiencing a small bounce back in the market after a week of decline. The digital currency had gained 1.4% as of this writing, pushing its price above $64,000. This comes after a rough week where Bitcoin saw a nearly 10% decrease in value.
Based on recent news, cryptocurrency analyst Michaël van de Poppe has offered his perspective on what could happen after the upcoming Bitcoin halving. According to him, it may be necessary to pay less attention to Bitcoin itself following the event, as there might be significant shifts in market stories.
Van de Poppe had shared his predictions for the crypto market earlier, although he didn’t provide details about the shift in the narrative. He anticipated that Ethereum (ETH) and initiatives related to Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA) would gain more attention following the Bitcoin halving event.
Expectance:
– #Bitcoin to consolidate.
– #Altcoins bouncing in their Bitcoin pairs.
– Narrative to shift to ETH and DePIN/RWA.
– Altcoin strength from in Q2/Summer.
– Corrections in Q3.
It’s going to be great, just buy the dip.
— Michaël van de Poppe (@CryptoMichNL) April 17, 2024
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2024-04-20 06:04