A widely followed crypto analyst believes Bitcoin’s (BTC) bull market is just weeks away from coming to an end.
The analyst pseudonymously known as Rekt Capital tells his 550,400 subscribers on the social media platform X that the Bitcoin bull market could end in two or three months if history repeats itself.
According to the pseudonymous analyst, the Bitcoin bull market typically hits the peak around 518 to 546 days after the halving, suggesting it could occur between mid-September and mid-October. The fourth Bitcoin halving took place in April 2024.
On what is in store for Bitcoin’s price over the coming weeks and months, the widely followed analyst says,
“If Bitcoin really does have two to three months left in its Bull Market…
Then this current period truly is the calm before the storm.”
Bitcoin is trading at $109,386 at time of writing.
Rekt Capital further says that even if the bull market extends beyond October, trying to capture the potential gains would be a high-risk and low-reward endeavor.
“The risk versus reward of that upside will likely not be worth heavy participation.
Is it worth capturing an additional +20 – 30% uptrend while risking a -60 to -70% Bear Market?”
On altcoins, the widely followed analyst says they could enjoy a rally once Bitcoin rises above the current all-time high of just under $112,000.
“When Bitcoin broke out into Price Discovery Uptrend 1 in November 2024…
Altcoins rallied exponentially during that time.
Altcoins would likely run once Bitcoin breaks out into Price Discovery Uptrend 2.”
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