Historical Trends
Crypto expert Rekt Capital has predicted a timeline for Bitcoin’s peak in this bull cycle based on historical price patterns.
Current Price Action
Bitcoin’s recent drop below $61,000 suggests a potential downward trend. However, Rekt Capital believes this consolidation between $60,000 and $70,000 will slow down the cycle and align it with past Halving cycles.
Expected Peak
Based on previous trends, Rekt Capital expects Bitcoin to reach its peak between mid-September and October 2023. This timeline is based on the time it took Bitcoin to peak after the Halving in previous cycles.
Possible Retracement
Rekt Capital predicts a retracement before the uptrend, but advises investors to remain calm and accumulate during these dips.
Current Market Conditions
Currently, Bitcoin is trading around $60,700, with a positive momentum in the weekly timeframe but a downward trend in the daily timeframe.
