A widely followed crypto analyst says Bitcoin (BTC) is about to enter the parabolic phase of the market cycle.
In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 474,000 followers on the social media platform
However, the analyst notes that it will most likely not take weeks for the major crypto assets to make big moves upward in terms of market capitalization.
“Bitcoin rejects the highest value of its current reaccumulation range. Clearly, BTC is just one weekly close above the range high away from entering the parabolic phase of the cycle. But history suggests that this historic outbreak may still be several weeks away.”
The trader continues remark that BTC could reach its cycle peak sometime between mid-September and mid-October of next year.
“In the 2015-2017 cycle, Bitcoin peaked 518 days after the halving. In the 2019-2021 cycle, Bitcoin peaked 546 days after the halving. If history repeats itself and the next bull market peak occurs 518-546 days after the halving, that would mean that Bitcoin could peak in mid-September or mid-October 2025 in this cycle.
Currently, Bitcoin is accelerating in this cycle by about 180 days. So the longer Bitcoin consolidates after the halving, the better it will be to re-sync this current cycle with the traditional halving cycle.”
Rekt Capital concludes his analysis by saying that since BTC has consolidated within the $60,000 to $70,000 price level over the past two months, it has reduced the acceleration of this cycle by about 80 days.
“In March 2024, Bitcoin reached new all-time highs, confirming an acceleration of the current cycle by 260 days compared to traditional halving cycles. However, Bitcoin has been consolidating between ~$60,000-$70,000 for over two months now. This has reduced the current cycle acceleration from 260 days to ~180 days.”
Bitcoin is trading at $68,571 at the time of writing, up 2.1% over the past 24 hours.
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