Analyst Reveals Bitcoin’s Bull Market Breakthrough: Here’s What You Need To Know
2024年4月20日 - 12:00PM
NEWSBTC
In a recent tweet, well-known crypto analyst Rekt Capital delved
into the potential timeline for the next Bitcoin market peak,
emphasizing the Halving cycle’s significant impact on building
BTC’s market path. As the Bitcoin Halving is set to occur between
today and tomorrow, April 20, Bitcoin has shown less significant
market movement. At the time of writing, the asset has a market
price of $64,578. Related Reading: Bitcoin Halving Could Catalyzed
$100,000 Price Surge: Bitwise CEO Analyst: ‘When Could Bitcoin Peak
In This Bull Market?’ According to Rekt Capital’s analysis, Bitcoin
typically reaches its bull market peak between 518 and 546 days
following a Halving event. Applying this historical timeline, the
next anticipated bull market peak could fall between mid-September
and mid-October 2025. However, as disclosed by Rekt Capital, recent
market trends suggest a possible acceleration in Bitcoin’s ongoing
cycle compared to historical patterns, demonstrated by the
cryptocurrency achieving new record levels approximately 260 days
ahead of the typical schedule. Despite this apparent acceleration,
Rekt Capital noted: Bitcoin has been experiencing a Pre-Halving
Retrace for the past month or so As a result, Bitcoin has been
slowing down and decelerating the cycle by 30 days thus far and
counting So while Bitcoin may have been accelerating by ~260 days
last month… Today this acceleration is now more close to ~230 days
due to the current Pre-Halving Retrace. Additionally, Rekt Capital
introduced an alternative viewpoint termed the “Accelerated
Perspective,” which factors in the duration from when Bitcoin
exceeds its previous peak to the projected culmination of the bull
market. Given Bitcoin’s recent attainment of new all-time highs in
March, this perspective implies that the subsequent bull market
peak could happen 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…
pic.twitter.com/QXZUS7ZyjU — Rekt Capital (@rektcapital) April 19,
2024 BTC Price Dynamics Amidst Market Fluctuations Meanwhile,
amidst recent market fluctuations, BTC is undergoing a slight
recovery. At the time of writing, it had increased marginally by
1.4%, bringing its market price to above $64,000. This recovery
follows a week-long decline during which Bitcoin experienced nearly
a 10% downturn. In light of these developments, crypto expert
Michaël van de Poppe has shared insights into the potential
implications of the impending BTC Halving event. Van de Poppe
suggests a shift in focus away from Bitcoin once the halving
occurs, speculating on potential changes in market narratives.
Related Reading: Crypto Expert Predicts A Narrative Shift
Post-Bitcoin Halving While he did not specify the exact narrative
shift, Van de Poppe previously outlined expectations for the crypto
market, including an anticipated emphasis on Ethereum (ETH) and
projects focused on Decentralized Physical Infrastructure Networks
(DePIN) and Real World Assets (RWA) post-Halving. 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 Featured image from Unsplash, Chart from TradingView
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