Analyzing Bitcoin’s Post-Halving Bull Run
A crypto analyst with a growing following has predicted the timeline for Bitcoin’s post-halving bull run. Rekt Capital, known for his long-term Bitcoin calls, is examining previous bull market cycles in 2017 and 2020 to determine when Bitcoin could reach its peak after the halving event. The halving, which halves BTC miners’ reward, is traditionally seen as a bullish catalyst due to the reduction in newly issued supply. Based on historical data, Rekt Capital suggests that Bitcoin could experience an 18-month-long bull market after the upcoming April 2024 halving. If history repeats itself, Bitcoin could potentially peak in mid-September or mid-October 2025.
Potential Pre-Halving Collapse
Despite his long-term bullish outlook, Rekt Capital warns that Bitcoin may experience a collapse leading up to the halving. He points out that in the 2019 cycle, Bitcoin formed a lower high around this point and subsequently crashed by 62% over 147 days. If this pattern repeats in the current cycle, Bitcoin could revisit its macro higher low in mid-February 2024, which would correspond to a price point of around $20,300. At the time of writing, Bitcoin is valued at $26,258. A move towards Rekt Capital’s downside target would imply a devaluation of over 22% for BTC.
Hot Take: Bitcoin’s Future Outlook
Rekt Capital’s analysis provides insights into the potential timeline and price movements of Bitcoin following its halving event. While there is optimism for an 18-month-long bull market after the April 2024 halving, caution is advised as Bitcoin could experience a significant drop in value before reaching new highs. It remains to be seen whether history will repeat itself in terms of Bitcoin’s price cycles. Investors should closely monitor market trends and be prepared for potential volatility in the coming months. As always, it is essential to conduct thorough research and consider various factors before making any investment decisions.
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