Renowned analyst Checkmate is revising his perspective on Bitcoin’s current market cycle and predicts that a parabolic surge is on the horizon. Speaking to his 90,000 followers on the social media platform X, the anonymous analyst suggests that Bitcoin is likely to go through a six-month period of “chopsolidation,” characterized by volatile consolidation without any significant trend shift. Following this phase, Checkmate believes that Bitcoin could experience a period of six months to a year marked by parabolic advances, drawing on historical patterns.
Checkmate dismisses speculations that Bitcoin’s bull run may have already reached its peak, stating that such an outcome would deviate significantly from BTC’s past market cycles. While acknowledging the recent drop in Bitcoin prices by over $8,250 month over month in April, the analyst emphasizes that corrections like these are to be expected, particularly in years when a Bitcoin halving occurs. Checkmate also highlights that the end of halving years tends to be highly bullish for Bitcoin.
As of now, Bitcoin is valued at $63,433.
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