As the cryptocurrency community prepares for the highly anticipated explosive Bitcoin rally following the Halving event, popular market analyst and trader Rekt Capital, with insightful insight prognosis suggested that the current BTC bull cycle could be shorter than past scenarios.
His observations come against a backdrop of changing market dynamics and involvement of institutional investors, which could affect the speed and behavior of the cycle. Rekt Capital analysis delves deeper BitcoinRecent price action and market trends, which depend on the digital asset entering what he called the pre-halving rally phase.
Bitcoin bull cycle peaks sooner than expected
Given that Bitcoin is starting to show bullish momentum, Rekt Capital says we could be ahead of schedule due to the significant difference between this cycle and others seen in previous years where bull markets extended usually over long periods.
According to the analyst, it is beneficial for the entire bull cycle that Bitcoin is struggling to emerge from this recent crisis. consolidation phase. Indeed, the crypto asset never left this phase so quickly during the post-halving period.
However, if a breakout occurred, this cycle would be accelerated to the extent that the bull market would only be shorter than it normally is. In the meantime, the BTC price is able to resynchronize with past halving cycles through this ongoing consolidation, allowing for a normal uptrend.
It is important to note that this consolidation phase has now lasted for around 3 months between the $60,000 mark and the $70,000 mark, according to the analyst.
Compared to previous halving cycles, the current cycle has sped up by around 260 days, as evidenced by the flagship asset hitting a new all-time high in March. However, due to the length of this reflection phase, the current acceleration of the cycle has decreased from 260 days to approximately 170 days.
So far, the crypto expert has also warned the crypto community of an impending price retracement strong enough to convince investors that the bull market has ended. Nonetheless, Rekt Capital urged the community not to get rattled as BTC will resume its uptrend after undergoing the correction, suggesting that the bull market is still present.
BTC Bull Run is still standing
As Bitcoin moves through unprecedented market dynamics, several analysts have offered insight into the digital asset’s uptrend. Cryptocurrency analyst Titan of Crypto has confirmed that BTC’s uptrend is still intact despite the current pessimistic market conditions.
Titan of Crypto noted that BTC, in this boring consolidation phase, intends to drive investors crazy, make them impatient, and force them to make mistakes. For this reason, the analyst advised investors to keep their BTC investments, noting that the best is yet to come.
At the time of writing, BTC was trading at $67,154, indicating a 7-day decline of over 6%. Its trading volume and market capitalization declined by over 27% and 1% over the past day, demonstrating pessimistic investor sentiment.
Featured image from iStock, chart from Tradingview.com
