- Analyst explores Bitcoin’s possible bull market peak this cycle.
- He believes the current cycles activity has been accelerated.
- Yet he advocates two possible outcomes based on historic movements.
The pioneer cryptocurrency, Bitcoin (BTC) continues its volatile journey in what seems to be an accelerated cycle. One analyst in particular shares his take on when the current bull run will reach its peak, giving this accelerated movement.
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The greatest reason behind an accelerated Bitcoin timeline has to do with the fact that Bitcoin already set its ATH in mad-March 2024. According to its previous Bitcoin Halving phases, BTC set its ATH much later. The fact that this cycle set an ATH much earlier has drawn the attention of major crypto analysts.
To put it in numbers, the analyst says that the cycle has been accelerated by 260 in comparison to traditional Bitcoin Halving cycles. Since the new ATH it looks like the asset’s pace has slowed down for the moment, putting the acceleration ahead by 210 days instead.
This deceleration suggests a potential alignment with the typical Bitcoin Halving cycle, where Bitcoin historically peaks 518-546 days after the crucial event. However, until this synchronization occurs, analysts are exploring alternative reference points for predicting the bull market peak.
One such approach includes measuring the time taken for Bitcoin to reach a peak after breaking its old all-time highs. Historically, Bitcoin has tended to peak 266-315 days after surpassing previous all-time highs.
Considering Bitcoin’s breakout in mid-March 2024, this analysis suggests a potential bull market peak between late November 2024 and late January 2025. Yet, an intriguing trend emerges when examining the duration Bitcoin spends beyond old all-time highs before peaking.
Over the years, this period has lengthened, from 268 days in 2013 to 315 days in 2021. Factoring in this trend, analysts estimate a broader range of 280-350 days beyond old all-time highs before Bitcoin’s bull market peak. This projection extends the potential peak to mid-December 2024 or early March 2025.
The analyst suggests advocating for considering both perspectives, with the traditional halving cycle serving as the primary thesis for predicting Bitcoin’s bull market peak. The crypto community eagerly awaits to see what plays out for Bitcoin (BTC).
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