Bitcoin's Current Bull Run may Peak Sooner than Anticipated, Analysts Predict

By: Isha Das

Bitcoin's recent surge in price, reaching an all-time high (ATH) of $72,300, prompts speculations regarding the potential peak of the current bull market. Historical data coupled with the upcoming halving event in April 2024 suggests that the peak might be reached significantly sooner than previously expected.

Reports from prominent crypto analysts Rekt Capital and Crypto Con suggest that we may witness the peak within 266-315 days from surpassing its old ATH, potentially around December 2024 to February 2025. The cycle's observed acceleration contributes to this projection, indicating accelerated growth, reducing the typical cycle by approximately 260 days.

The four-year cycle, characterized by market peaks occurring four years after each halving event, may be experiencing a significant shift. Bitcoin's recent price escalation and the accomplishment of new ATHs approximately a year earlier than anticipated, suggest that this four-year cycle might be outdated and no longer holds its predictive power.

Analyses indicate that the current market trajectory aligns more closely with the 2017 bull run than with previous cycles. Comparing the first tops of cycles 1 and 3 (2013 and 2021) to the present, both instances show a similar trend, bringing forth an intriguing possibility of Bitcoin's next bull market peak happening in late 2024.