A closely followed analyst who is one of the pioneers in the cryptocurrency market has made striking predictions about when the price of Bitcoin will reach its peak in the ongoing bull market cycle. Analyst Rekt Capital stated that based on historical data, Bitcoin could reach the peak of the current bull cycle by late 2024 or early 2025.
Rekt Capital made these predictions by analyzing past price action and market movements in detail. According to analyst analysis, Bitcoin’s peak in previous bull cycles has generally taken between 266 and 315 days. Based on this information, Rekt Capital predicts that Bitcoin could reach the top of this cycle between late November 2024 and late January 2025.
However, Rekt Capital’s forecast is not based solely on this narrow time frame. The analyst also notes that he has observed that each bull cycle in Bitcoin’s history has generally been longer than the previous one. Therefore, he states that the current bull cycle may also continue for a long time and the time to peak may be longer than previous predictions:
“We should consider that there may be some extension in the number of days beyond former all-time highs before the bull market enters a macro bear market and peaks for the final time.
And it’s really important to understand this extension because it’s from here [2014] here [2018] There is an extension of up to two weeks. It seems that 2022 will be extended by a little more than a month compared to 2018.
NEWS CONTINUES BELOWSo will this current cycle be extended by two weeks or just over a month? Or will it be an extension of one month plus two weeks? “That would really push the potential peak of the bull market to maybe February, maybe even March, April at the latest.”
The analyst also points out that the current cycle appears to be faster than the previous ones, and all-time high (ATH) prices were reached before the halving event. In previous cycles, the ATH level was reached after the halving event. The analyst believes that with the cycle lasting longer than previous ones, pace could be effective once the peak is reached.
“So at least the first quarter of 2025 is when Bitcoin could reach the top of the bull market, according to this chart.”
Bitcoin is trading at around $72,959 at press time.
You can follow the current price movement here.
