Bitcoin price could peak in December 2024, highlights trader

Bitcoin price could peak in December 2024, highlights trader

Trader analyzes Bitcoin’s cycle, suggests earlier peak amid acceleration.

As Bitcoin (BTC) nears its halving event, trader Rekt Capital shared in an X post that BTC price could peak between December and February 2025, making this bull run’s post-halving phase shorter than in the previous cycles.

Based on past cycles, the parabolic uptrend usually lasts 518 to 546 days after the halving. If history repeats itself, then the current bull cycle should last up to October 2025, Rekt Capital highlights.

“However, Bitcoin is showing clear signs of acceleration in its current cycle given how it reached new all-time highs by approximately ~260 days ahead of schedule compared to historical norms. That being said, Bitcoin has been experiencing a Pre-Halving Retrace for the past month or so. As a result, Bitcoin has been slowing down and decelerating the cycle by 30 days thus far and counting,” explained the trader.

Therefore, for every price correction experienced by BTC, the duration of the post-halving uptrend phase is extended. This reduces the 260-day acceleration mentioned by Rekt Capital to 230 days, which will make this bull cycle last from 266 to 315 days.

However, there’s another measurement point utilized by Rekt Capital, which is the moment BTC breaks an old all-time high.

Bitcoin’s last all-time high was registered on March 14, when it peaked at $73,737.94, according to data aggregator CoinGecko.

If the Accelerated Perspective turns out to be true, then the next Bull Market peak may thus occur in 266-315 days

“In sum, both perspectives are worth considering throughout the cycle, especially if the acceleration in this cycle persists. However, the longer Bitcoin retraces or consolidates during certain periods, the more the cycle slows down, pushing the inevitable Bitcoin Bull Market Peak further into the future,” concludes Rekt Capital.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight – and oversight – of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *