An expert who accurately predicted Bitcoin’s pre-halving correction last year is now cautioning that the current bull market cycle for BTC may be approaching its end soon. Rekt Capital, the pseudonymous analyst with a substantial following on YouTube, believes that based on historical patterns, Bitcoin could potentially reach a cycle peak in the next few months.
According to Rekt Capital, the timeframe to watch for a possible peak in this bull market cycle is between September and October. With July already in progress, this leaves roughly two to three months remaining for potential price expansion before a downturn. The analyst suggests that Bitcoin is approximately 88% through its current bull run, indicating that the risk is heavily skewed to the downside for BTC.
When analyzing the market cycles, Rekt Capital points out that there may be only a small window of opportunity left for Bitcoin to see further price growth. He estimates that Bitcoin could reach around $140,000 before hitting the cycle’s high. While some analysts speculate that this cycle may diverge from previous ones and last longer, the validity of such theories remains to be seen.
As of the latest update, Bitcoin is trading at $109,463, reflecting a 3.1% increase in the past 24 hours. It’s essential to keep a close eye on the price action and market trends as the cryptocurrency market continues to evolve.
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Remember, the cryptocurrency market is highly volatile, and investing in digital assets carries inherent risks. Make sure to conduct thorough research and consult with financial advisors before making any investment decisions.
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