Bitcoin (BTC) has continued its remarkable rise and achieved a new leap forward. Best ever With (ATH) at $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 examined previous halving cycles and the “acceleration” observed in the current cycle. proposal The Bitcoin bull market could peak within 266 to 315 days after breaking the existing all-time high, which could potentially occur in December 2024 or February 2025.
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, which represents the current peak for Bitcoin. bull market It can happen much sooner than you expect.
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.
The Bitcoin halving event, which takes place approximately every four years, has historically played a significant role in shaping halvings. market cycle. 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 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 be sustainable as Bitcoin reaches new all-time highs sooner than expected. Believe The “boundaries of traditional cycles” are expanding, 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.”
Bitcoin recently entered “price discovery mode” and hit a new ATH about a year earlier than expected. 4 year cycle It may no longer have predictive power.
Crypto Con’s analysis shows that the current market trajectory aligns more closely with the 2017 bull market than before. cycle. 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 peak will occur in late 2024, rather than late 2025 as previously expected.
Featured image from Shutterstock, chart from TradingView.com
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