Summary:
Rekt Capital predicts Bitcoin is transitioning into a bull market cycle phase.
He draws parallels with 2016 and 2020 market cycles.
A breakout from the post-halving re-accumulation phase could happen by late September.
Bitcoin is currently trading at $60,413, up 1.5% in the last 24 hours.
Historical breakout patterns suggest significant price movements 150-160 days post-halving.
Bitcoin's Bull Market Transition
A prominent crypto analyst and trader, known as Rekt Capital, believes that Bitcoin (BTC) is on the verge of transitioning into a bull market cycle phase. He shares his insights with his 82,700 YouTube subscribers, drawing parallels with previous market cycles from 2016 and 2020.
âWe are definitely transitioning slowly but surely into the bull market stage. Weâre probably already in this bull market phase, but we still have a lot more yet to come.â
Historical Precedence for Bullish Breakout
Rekt Capital suggests that Bitcoin could break out of the post-halving re-accumulation phase as soon as next month. He cites historical data indicating that significant price movements typically occur 150 to 160 days after a halving event. Currently, we are 126 days post-halving, hinting that a breakout could occur by late September.
âIf we think about 2020, then we saw a breakout from the re-accumulation phase... Weâre currently 126 days after the halving⌠so 160 days would see us break out in late September.â
Current Market Status
As of now, Bitcoin is trading at $60,413, reflecting a 1.5% increase over the last 24 hours. Analysts and investors are keenly watching for signs of this predicted explosive phase, which could redefine market dynamics.
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