The crypto world was excited as Bitcoin’s price finally surged past its previous all-time high after two failed attempts. This breakthrough signaled the start of a new bull run, and investors were eager to capitalize on the opportunity.
Among the many analysts trying to predict when Bitcoin would reach its peak during this cycle was the renowned Rekt Capital. In a tweet, they laid out their analysis based on historical Bitcoin bull market cycles.
According to Rekt Capital, Bitcoin has typically peaked 518 to 546 days after the halving event, which reduces the rate at which new bitcoins are created. However, they noted that the current cycle showed clear signs of acceleration, potentially cutting the typical cycle length in half.
If Bitcoin’s peak was measured from the moment it breached its previous all-time high, which happened just a week ago, Rekt Capital suggested that the bull market top could occur between 266 and 315 days later. This meant that the next Bitcoin peak could potentially happen as early as December 2024 or as late as February 2025, assuming the accelerated perspective proved accurate.
The concept of “halving” refers to the predetermined event that occurs approximately every four years, where the reward for mining new Bitcoin blocks is reduced by half. This event is designed to control the supply of Bitcoin and maintain its scarcity, which is a key factor in driving its value.
Investors and traders alike were captivated by Rekt Capital’s analysis, as predicting the peak of a bull market cycle could help them maximize their profits. Some were cautious, aware that past performance was not a guarantee of future results. Others were more optimistic, believing that the accelerated cycle theory could hold true, given the increasing mainstream adoption and institutional interest in Bitcoin.
As the crypto community eagerly awaited the unfolding of this bull run, one thing was certain: the pursuit of the elusive Bitcoin peak would be a thrilling ride, filled with both potential rewards and risks.
