Altcoin Market Cycle
According to analyst Rekt Capital, altcoin market cycles typically occur in quarterly waves. The most recent cycle peaked this month. Rekt predicts altcoins may reach their lowest point in late May or early June, followed by a new “hype cycle” in July.
Bitcoin’s Outlook
Despite recent corrections, Rekt believes Bitcoin remains in a bull market. He anticipates a temporary dip that will sow doubt before a resumption of the uptrend.
Halving Impact
Rekt expects Bitcoin to consolidate between $60,000 and $70,000 after the halving event this month, when miners’ rewards are reduced. He suggests that the recent rejection at $70,000 may indicate the upper resistance level for the re-accumulation phase.
Conclusion
At the time of writing, Bitcoin is trading at $66,360, up over 2% in the last 24 hours. Rekt’s analysis suggests that altcoins are poised for a recovery and potential hype cycle in the coming months, while Bitcoin is expected to continue its upward trajectory after a brief consolidation period.
