bitcoin-price-left-danger-zone/” target=”_blank” rel=”nofollow”>Cryptocurrency analyst Rekt Capital has provided insight into when the bitcoin price will hit its cyclical highs. His analysis has provided assurance that the flagship cryptocurrency is still far from hitting its market peak despite its bitcoin-price-crashed-58000/#:~:text=bitcoin%20has%20dropped%20to%20as,a%20relief%20bounce%20going%20forward.” target=”_blank” rel=”nofollow”>recent drop to new lows this week.
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When will bitcoin peak in this bull run?
Rekt Capital mentioned in an x (formerly twitter) x.com/rektcapital/status/1808976353514893603″ target=”_blank” rel=”nofollow”>mail that bitcoin could peak in this cycle sometime in mid-September or mid-October 2025 if history were to repeat itself. The analyst noted that bitcoin peaked 518 days after the halving event during the bitcoin-price-preparing-to-mirror-2017-bull-run/” target=”_blank” rel=”nofollow”>Bull run of 2017 and 546 days after the halving event during the bitcoin-shatters-profit-taking-streak-2021-bull-run/” target=”_blank” rel=”nofollow”>Bull run of 2021.
Based on this, the analyst predicts that the bitcoin market top in this bull run could occur between 518 and 546 days after the bitcoin-bull-market-glassnode/” target=”_blank” rel=”nofollow”>halving eventwhich occurred in early April. This timeline puts the projected peak for bitcoin sometime in September or October of next year. Meanwhile, Rekt Capital again alluded to the fact that bitcoin was accelerating in this cycle 260 days earlier this year.
However, this is no longer the case thanks to the expansion three-month consolidation period The flagship cryptocurrency has seen a huge shift since the halving event. Rekt Capital claimed that the acceleration rate has “drastically decreased and is now at approximately 150 days.” It added that bitcoin will likely resynchronize with the traditional halving cycle the more it consolidates.
The cryptocurrency analyst has also refused to be intimidated by the current price action of bitcoin, which some say suggests the bullish trend is over. However, Rekt Capital has repeatedly stated that bitcoin will retrace enough to convince anyone that bitcoin-bull-market-glassnode/” target=”_blank” rel=”nofollow”>confinement has ended and will then continue its upward trend.
In other x.com/rektcapital/status/1808968287352451270″ target=”_blank” rel=”nofollow”>Publication xRekt Capital mentioned that bitcoin's downtrend, which bitcoin-price-tragic-june/” target=”_blank” rel=”nofollow”>started last monthis a cryptocurrency to keep an eye on for a major trend reversal. The analyst noted that a breakout of the “multi-week downtrend would result in the start of at least a multi-week uptrend” for the flagship cryptocurrency.
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bitcoin is now trading at $56,693. Chart: TradingView
'This is not the best vibration cycle'
bitcoin-price-set-to-sprint-toward-40000/” target=”_blank” rel=”nofollow”>Cryptocurrency Analyst Mikybull crypto He also believes that the bitcoin-cycle-top-13-on-chain-indicators/” target=”_blank” rel=”nofollow”>top of the cycle Not yet available despite the recent bitcoin crash, x.com/MikybullCrypto/status/1809096354846699555″ target=”_blank” rel=”nofollow”>stating that this price action is “not the feeling of a cycle top.” The analyst also said that the current bitcoin sell-off bottom could be closer than everyone thinks and noted that this scenario played out in Q3 2023 when most people thought it was over.
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The analyst x.com/MikybullCrypto/status/1808458315757748227″ target=”_blank” rel=”nofollow”>previously mentioned that the top cycle has not yet arrived and simply classified this market downtrend as the “final shakeout” before bitcoin reaches its peak in this bull run. Mikybull crypto also claimed that bitcoin has a top cycle bitcoin-bull-market-huge-bubble/” target=”_blank” rel=”nofollow”>Target price of $171,000which means that the flagship cryptocurrency will still reach new levels bitcoin-breaks-through-69000-setting-new-record/” target=”_blank” rel=”nofollow”>All-time highs (ATH) before the lockdown was considered over.
Featured image from Getty Images, chart from TradingView
