As the cryptocurrency community prepares for bitcoin's long-awaited explosive rally following the Halving event, popular market analyst and trader Rekt Capital, with a revealing x.com/rektcapital/status/1801298871437373828″ target=”_blank” rel=”noopener nofollow”>forecast has suggested that the current btc bull cycle could be shorter than past scenarios.
His observations are made against a backdrop of changing market dynamics and increased participation of institutional investors, which could be affecting the speed and behavior of the cycle. Rekt Capital's analysis delves into bitcoin's recent price action and market patterns, which depend on the digital asset's entry into what it called the pre-halving recovery phase.
bitcoin Bull Cycle Peaks Earlier Than Expected
With bitcoin beginning to show bullish momentum, Rekt Capital claims that we could be ahead of schedule due to the significant difference between this cycle and others seen in previous years, where bull markets typically extended for extended periods.
According to the analyst, it is an advantage for the entire bull cycle that bitcoin finds it difficult to get out of this recent consolidation phase. This is because the crypto asset has never come out of this phase so quickly in the post-halving period.
However, if the breakout were to occur, this cycle would accelerate to the point that the bull market would be shorter than it normally is. Meanwhile, the btc price may resynchronize with previous halving cycles as a result of this ongoing consolidation, allowing for a normal bull run.
It is important to note that this consolidation phase has lasted for approximately 3 months between the $60,000 and $70,000 mark. x.com/rektcapital/status/1801298206304678097″ target=”_blank” rel=”noopener nofollow”>according to the analyst.
Compared to previous halving cycles, the current cycle has accelerated by around 260 days, as evidenced by the flagship asset hitting a new all-time high in March. However, due to the long term of this consideration phase, the current cycle acceleration has decreased from 260 days to approximately 170 days.
So far, the crypto expert has also warned the crypto community of an impending price pullback strong enough to convince investors that the bull market has come to an end. However, Rekt Capital has urged the community not to be impressed by this as btc will resume its uptrend after undergoing the correction, suggesting that the bull market is still present.
btc Bull Run still on
As bitcoin navigates unprecedented market dynamics, several analysts have offered insight into the digital asset's bull run. Cryptocurrency analyst Titan of crypto has x.com/Washigorira/status/1801254903697826072″ target=”_blank” rel=”noopener nofollow”>confirmed that btc's bull run remains intact despite the current pessimistic market conditions.
Titan of crypto noted that btc in this boring consolidation phase aims to drive investors crazy, make them impatient, and force them to make mistakes. Because of this, the analyst has advised investors to keep their btc investments, pointing out that the best is yet to come.
At the time of writing, btc was trading at $67,154, indicating a drop of over 6% in 7 days. Both its trading volume and market capitalization fell by more than 27% and 1% in the last day, demonstrating a bearish sentiment among investors.
Featured image from iStock, chart from Tradingview.com
