A closely watched crypto analyst says altcoins are paving the way for a massive breakout in July.
Pseudonymous analyst Rekt Capital tells His 467,200 followers on the social media platform
“There is still time left before the altcoin hype cycle kicks off in the second quarter. But right now the foundations are being laid for the next wave of altcoin rallies. Market-wide breakouts cannot occur without the market first going through slow periods of consolidation.”
Then the analyst say If Bitcoin follows historical precedent, the crypto king’s cycle top will likely arrive in September or October 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 2025 or mid-October 2025 in this cycle.
Currently, Bitcoin is accelerating in this cycle by about 200 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.”
Bitcoin is trading at $64,848 at the time of writing, up 4.6% in the past 24 hours.
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Generated image: Midjourney