20 April 2024
In a recent tweet, well-known crypto analyst Rekt Capital delved into the potential timeline for the next Bitcoin market peak, emphasizing the Halving cycle’s significant impact on building BTC’s market path.
As the Bitcoin Halving is set to occur between today and tomorrow, April 20, Bitcoin has shown less significant market movement. At the time of writing, the asset has a market price of $64,578.
Analyst: ‘When Could Bitcoin Peak In This Bull Market?’
According to Rekt Capital’s analysis, Bitcoin typically reaches its bull market peak between 518 and 546 days following a Halving event. Applying this historical timeline, the next anticipated bull market peak could fall between mid-September and mid-October 2025.
However, as disclosed by Rekt Capital, recent market trends suggest a possible acceleration in Bitcoin’s ongoing cycle compared to historical patterns, demonstrated by the cryptocurrency achieving new record levels approximately 260 days ahead of the typical schedule.
Despite this apparent acceleration, Rekt Capital noted:
Bitcoin has been experiencing a Pre-Halving Retrace for the past month or so As a result, Bitcoin has been slowing down and decelerating the cycle by 30 days thus far and counting So while Bitcoin may have been accelerating by ~260 days last month… Today this acceleration is now more close to ~230 days due to the current Pre-Halving Retrace.
Additionally, Rekt Capital introduced an alternative viewpoint termed the “Accelerated Perspective,” which factors in the duration from when Bitcoin exceeds its previous peak to the projected culmination of the bull market.
Given Bitcoin’s recent attainment of new all-time highs in March, this perspective implies that the subsequent bull market peak could happen between December 2024 and February 2025.
When Could Bitcoin Peak In This Bull Market?
Historically, Bitcoin has peaked in its Bull Market 518-546 days after the Halving (Chart 1)
This is how typical Bitcoin Halving Cycles have progressed
So if history repeats…
Next Bull Market peak may occur 518-546 days… pic.twitter.com/QXZUS7ZyjU
— Rekt Capital (@rektcapital) April 19, 2024
BTC Price Dynamics Amidst Market Fluctuations
Meanwhile, amidst recent market fluctuations, BTC is undergoing a slight recovery. At the time of writing, it had increased marginally by 1.4%, bringing its market price to above $64,000. This recovery follows a week-long decline during which Bitcoin experienced nearly a 10% downturn.
In light of these developments, crypto expert Michaël van de Poppe has shared insights into the potential implications of the impending BTC Halving event. Van de Poppe suggests a shift in focus away from Bitcoin once the halving occurs, speculating on potential changes in market narratives.
While he did not specify the exact narrative shift, Van de Poppe previously outlined expectations for the crypto market, including an anticipated emphasis on Ethereum (ETH) and projects focused on Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA) post-Halving.
Expectance:
– #Bitcoin to consolidate.
– #Altcoins bouncing in their Bitcoin pairs.
– Narrative to shift to ETH and DePIN/RWA.
– Altcoin strength from in Q2/Summer.
– Corrections in Q3.
It’s going to be great, just buy the dip.
— Michaël van de Poppe (@CryptoMichNL) April 17, 2024
Featured image from Unsplash, Chart from TradingView