Bitrabo Editorial
Amid expectations of an upcoming Bitcoin rally post-Halving, analyst Rekt Capital suggests that the current Bitcoin bull cycle may be shorter due to changing market dynamics and increased institutional involvement. His analysis focuses on Bitcoin’s recent price movements and market patterns as it enters the Pre-Halving rally phase.
Potential Early Peak for Bitcoin Bull Cycle
Rekt Capital predicts that the current bullish momentum might indicate an acceleration of the cycle compared to previous years. Bitcoin’s struggle to break out of consolidation quickly post-Halving has not been witnessed before, and if a breakout occurs, the cycle may be shorter than usual. However, the ongoing consolidation might allow for a more normal bull run reflecting past Halving cycles.
The consolidation phase lasting about three months between $60,000 and $70,000 is a key observation according to the analyst. The current cycle has shown an acceleration of about 260 days compared to previous Halving cycles.
While warning of a potential strong price retracement that could mislead investors into believing the bull market has ended, Rekt Capital remains optimistic, indicating that Bitcoin will continue its upward trend post-correction.
Bitcoin Bull Market Endurance
Despite challenging market conditions, analysts reaffirm Bitcoin’s bull run resilience. Titan of Crypto emphasizes that the current consolidation phase aims to test investors’ patience but advises holding onto BTC investments for better times ahead.
At the moment, Bitcoin is trading at $67,154, experiencing a 7-day decline of over 6%. Both trading volume and market cap have decreased, indicating a bearish sentiment among investors.