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Bitcoin’s price hit $65,000 on Monday before a decline ensued, leaving investors curious about the next price movement. A prominent analyst has provided insights, hinting at an imminent price surge that has sparked excitement among investors despite the current neutral trend on the charts.
Why Bitcoin’s Price Might Increase Soon?
According to Rekt Capital, a well-regarded crypto analyst, Bitcoin (BTC) is currently in a reaccumulation phase and might soon enter a parabolic phase. Historical data suggests that Bitcoin could breach its all-time high (ATH) of around $73,800 in the coming weeks.
The analyst emphasizes a pattern observed post-halving, where Bitcoin typically starts an uptrend roughly 214 days after the event. This could lead to new highs and an extended period of price discovery.
When Will Bitcoin Hit Its Peak?
Rekt Capital further suggests that the peak of Bitcoin’s price cycle, related to the bull market, might occur around September 2025. The analysis is drawn from historical cycles where it took approximately 518 to 546 days post-halving to reach the bull market’s zenith.
For instance, the 2020-2021 bull run saw Bitcoin reach its peak 546 days after the halving, while the 2016-2017 cycle took 518 days. This pattern underlines the consistency in Bitcoin’s price behavior following halving events.
Investor Takeaways
- Monitor the 214-day post-halving period for significant uptrends in Bitcoin’s price.
- Expect potential ATH breaches within weeks based on historical data.
- Anticipate the bull market peak around September 2025.
At present, Bitcoin’s price remains neutral, trading at $59,370 with a minor drop of 0.01% over the last 24 hours. The cryptocurrency’s market cap stands at $1.172 trillion, and trading volume has decreased by 30% to $32.8 billion. Despite positive market news, investor interest appears to be waning, but it could revive with favorable developments.