Revealing the peak period of the Bitcoin bull market
As Bitcoin (BTC) continues its incredible rise, hitting an all-time high (ATH) of $72,300, investors are wondering when the current bull market will peak. Cryptocurrency analyst Rekt Capital provided insight into the potential timing, taking into account historical data and the halving event scheduled for April 2024. Is Bitcoin peaking sooner than expected? Rekt Capital looked into previous halving cycles and the “acceleration” observed in the current cycle, and found that Bitcoin’s bull market could peak within 266 to 315 days after breaking previous highs, potentially in December 2024 or February 2025. They suggest it could happen in March. Bitcoin has historically peaked in bull markets approximately 518 to 546 days after a halving, according to analysis by Rekt Capital. However, in the current cycle, growth is accelerated, shortening the cycle by approximately 260 days. According to analysts, this acceleration has the potential to halve the typical cycle length, indicating that Bitcoin’s peak in the current bull market could occur much sooner than expected. Related Read: 94 Million XRP Exits Binance as Bulls Take Back Control What’s going on? Rekt Capital’s perspective on measuring bull market peaks from past past highs provides valuable insight. In this cycle, Bitcoin recently hit a new all-time high, representing a potential milestone for the market. If the accelerated outlook holds, the next bull market peak is estimated to occur within 266 to 315 days of this breakout, reaching somewhere between December 2024 and February 2025, according to analysis provided by Rekt. Bitcoin halving events, which occur roughly every four years, have historically played a significant role in shaping market cycles. These events reduce the block rewards miners receive, thereby reducing the rate of new Bitcoin supply, but this time may be different, according to another analyst, Rekt. From a four-year cycle to new horizons Similar to Rekt’s analysis, market expert Crypto Con suggests that the “traditional four-year cycle” may no longer hold up as Bitcoin reaches new all-time highs sooner than expected. Con believes that “the boundaries of traditional cycles” are being pushed, potentially signaling a paradigm shift in Bitcoin market dynamics. Historically, Bitcoin’s price cycle has followed a four-year pattern, with market peaks approximately four years after each halving event. But CryptoCon challenges this notion, arguing that the current cycle deviates from the “traditional timeline.” Related Read: The Cloudy Future of Ethereum ETFs – What’s Calling Their Fate in Question? Bitcoin’s recent entry into “price discovery mode” and hitting a new ATH about a year earlier than expected suggests that the four-year cycle may no longer hold predictive power. Crypto Con’s analysis shows that the current market trajectory aligns more closely with the 2017 bull market than with previous cycles. Comparing the first peaks of periods 1 and 3 (2013 and 2021) to the present, we see that in both cases we were on the verge of forming an initial peak around April, which reflects current market conditions. These observations support the possibility that Bitcoin’s next bull market will occur in late 2024, rather than late 2025 as previously expected. Featured image from Shutterstock, chart from TradingView.com
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