As a researcher with a background in cryptocurrency analysis, I find the insights provided by Rekt Capital and Mikybull Crypto intriguing, as they offer valuable perspectives on when Bitcoin may peak in this bull run. Based on their analyses, it seems that both analysts believe that the cycle top is still some way off, despite recent price declines.
As a crypto investor, I’ve been following the analysis of Rekt Capital closely. According to his latest insights, we can expect Bitcoin‘s price to hit its cycle highs sometime in the future. Despite this week’s downturn that brought new lows, his assessment brings reassurance that we’re still far from reaching a market top.
When Will Bitcoin Peak In This Bull Run
In a recent post on X, previously known as Twitter, Rekt Capital proposed a possible Bitcoin peak timing based on historical trends. According to their analysis, if history repeats itself, Bitcoin’s price could reach its maximum in the ongoing cycle around mid-September or mid-October of 2025. This estimation is derived from the observation that Bitcoin peaked approximately 518 days following the halving event during the bull market of 2017 and 546 days after the halving event in the bull market of 2021.
Based on recent analysis, it is predicted that Bitcoin’s market peak in this current bull run may occur between 518 and 546 days after the halving event, which took place in April. This prediction places the potential peak for Bitcoin somewhere in September or October of next year. It’s also worth noting that Rekt Capital has pointed out that Bitcoin’s progression in this cycle has been accelerating by approximately 260 days earlier this year.
Despite the significant decline in Bitcoin’s rate of acceleration following the halving event, which occurred over three months ago, the cryptocurrency has been undergoing a prolonged period of consolidation. According to Rekt Capital’s analysis, the current pace is around 150 days. He further posits that Bitcoin’s price action will eventually align with the typical halving cycle as it continues to consolidate.
The crypto expert remains unfazed by recent price fluctuations in Bitcoin, which some critics argue signal the end of the bull market. Nevertheless, Rekt Capital consistently maintains that Bitcoin’s correction will be significant enough to convince doubters of the bull run’s demise before resuming its upward trajectory.
In a previous post on X, Rekt Capital indicated that Bitcoin’s declining trend, which started last month, is worth keeping an eye on as it could signal a significant shift in the market. According to the analyst, if Bitcoin manages to break free from this prolonged downtrend, we can expect at least a few weeks of an uptrend for the leading cryptocurrency.
‘This Is Not The Cycle Top Vibes’
As a researcher closely monitoring the cryptocurrency market, I share Mikybull Crypto’s perspective that we may not have reached the cycle top for Bitcoin yet. The recent price decline doesn’t resonate with the usual signs of a market top for me. In fact, I recall a similar scenario in the third quarter of 2023 when many believed the market had peaked only to be proven wrong. It’s important to remember that market trends don’t always follow a predictable path and unexpected turns can occur.
Previously, the analyst identified this market decline as the “last dip” prior to Bitcoin reaching its maximum value during this ongoing bull market. Mikybull Crypto predicted a cycle top price of $171,000 for Bitcoin, implying that fresh all-time highs (ATHs) are yet to be achieved before the bull run concludes.
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2024-07-06 17:46