One widely followed crypto trader is sending Bitcoin (BTC) crashing following last week's 9% crash.
Pseudonymous cryptocurrency analyst Rekt Capital To tell His 452,800 followers on social media platform
“One of the key things to note about Bitcoin’s re-accumulation scope throughout this cycle is:
Fall wicks below range lows tend to occur to lure investors into a false breakdown (black circle) before returning to the uptrend. ”
Bitcoin is rapidly approaching halving, a quadrennial event where BTC mining rewards are cut in half. Indicators suggest that an imminent event will occur within the next week. According to Rekt Capital, that means: bullish cycle peak It's still about a year and a half away.
“If history repeats itself…”
Next bull market peak could occur 518-546 days after halving
That will be mid-September or mid-October 2025. ”
BTC may be in a pullback phase of accumulation, according to analysts, but the crypto tycoon is rallied From the worst situation of the past.
“This is a significant -18% decline that lasted 10 days.”
In terms of depth, this is very close to bullish buy territory based on pullbacks in this cycle (up to -23% deep)
However, in terms of time, this is still one of the shortest retracements of this cycle (currently only 10 days long)
Previous backlashes have lasted two to three weeks, or at most two months. ”
At the time of writing, BTC was valued at $63,693, up 6% in the past 24 hours.
A break from analyst BTC To tell Altcoins are trending downward until at least late May and likely early June.
“The first quarter altcoin hype cycle is over.”
Now is the time to be patient and wait for the Q2 altcoin hype cycle to begin.
This would mean the altcoin would bottom out as early as mid-May, or more realistically late May or early June. ”
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