Famous cryptocurrency analyst Rekt Capital shared his views on the future of Bitcoin, which recently broke the all-time high price level record once again.
According to Rekt Capital, Bitcoin tends to reach its “Bull Market Top” between 266 and 315 days after surpassing the previous All Time High Price (ATH).
Considering that Bitcoin broke its former ATH today, the next Bull Market Peak is predicted to occur between the end of November 2024 and the end of January 2025.
But this cycle may not be as fast as it seems. The analyst points out that the number of days Bitcoin spent beyond its former ATH before reaching its Bull Market Top is actually lengthening. In 2013, Bitcoin rallied for 268 days before reaching its peak. This figure increased by 14 days to 280 days in 2017. In 2021, it increased by 35 days compared to 2017, reaching 315 days.
Historically, the number of days Bitcoin spends beyond its former ATH increases by approximately 14 to 35 days. So, how long can Bitcoin spend beyond its former ATH this cycle before reaching its Bull Market Top?
According to the analyst, if we add 14 to 35 days to the First Bull Market Peak range of 266 to 315 days, the total will reach 280 to 350 days. This could push the Bitcoin Bull Market Peak to mid-December 2024 or mid-February 2025.
*This is not investment advice.