A prominent cryptocurrency expert has pinpointed a potential timeline for Bitcoin’s (BTC) next peak, drawing on historical patterns. Addressing his substantial following of 481,200 on social media platform X, the esteemed crypto strategist Rekt Capital shared insights suggesting that Bitcoin’s value typically reaches its zenith between 518 to 546 days post-halving, an event that recurs every four years in April.
Reflecting on past cycles, Bitcoin’s value soared to its peak 518 days following the 2015 halving and 546 days after the 2017 halving. Should these patterns hold true, we could witness Bitcoin attaining its cycle peak around mid-September to mid-October of 2025.
Yet, Rekt Capital cautions that the recent downturn in the cryptocurrency market has significantly decelerated Bitcoin’s momentum. Earlier in the year, Bitcoin was advancing at a brisk pace of 260 days ahead of the cycle. However, a prolonged consolidation period of over three months has tempered this progress, reducing the acceleration to roughly 150 days. A more extended consolidation phase post-halving could align this cycle more closely with previous halving cycles, suggests Rekt Capital.
Source: Rekt Capital/X
Further analysis by the trader indicates that Bitcoin may have reached its lowest ebb, as evidenced by a comparison of all Bitcoin retracements since February 2023:
– A 23% drop in February 2023.
– A 21% decline in April/May 2023.
– A 22% reduction in July/September 2023.
– A 21% fall in January 2024.
– A 23.6% descent in April/May 2024.
– A 21% decrease to date in June 2024.
With an average cycle retraction of 22%, the current pullback aligns closely with this norm.
Source: Rekt Capital/X
At the moment of reporting, Bitcoin’s trading value stands at $56,521, marking a 2.6% dip over the past 24 hours.
Stay informed – subscribe to receive email notifications straight to your inbox. Explore the latest price movements, and connect with us on X, Facebook, and Telegram. Dive into The Daily Hodl Mix for more insights.
Please note, the views expressed at The Daily Hodl do not constitute financial advice. Investors are advised to conduct thorough research before engaging in high-risk Bitcoin, cryptocurrency, or digital asset investments. All trading and transfer activities are conducted at your own risk, and any resulting losses are solely your responsibility. The Daily Hodl neither endorses nor advises on the purchase or sale of any cryptocurrencies or digital assets and is not a financial advisor. The Daily Hodl is engaged in affiliate marketing.
Generated Image: Midjourney
