Famous cryptocurrency analyst Rekt Capital recently presented a comprehensive analysis predicting the peak of the current Bitcoin bull market.
According to the analyst, Bitcoin historically reaches its bull market peak 266 to 315 days after surpassing the previous all-time high. With Bitcoin hitting an all-time high just last week, the analyst predicts that the next bull market peak will occur in late November 2024 or late January 2025.
However, according to Rekt Capital, this cycle may accelerate. Interestingly, the number of days Bitcoin spends beyond all-time highs appears to be increasing.
In 2013, Bitcoin rallied for 268 days before reaching its peak. This figure increased to 280 days in 2017, an increase of 14 days. In 2021, Bitcoin spent 315 days above its all-time high before peaking, which is a 35-day increase compared to 2017.
Historically, the amount of time Bitcoin has spent beyond former all-time highs has increased by approximately 14 to 35 days.
If we add 14 to 35 days to the range of 266 to 315 days, which was the first bull market peak, the peak in the current rally could be a total of 280 to 350 days after the record high, according to the analyst.
This could potentially move the Bitcoin bull market peak to mid-December 2024 or mid-February 2025, according to the analyst.
*This is not investment advice.