The post A November ATH and the Critical 250 Days That Follow appeared on BitcoinEthereumNews.com.

Bitcoin’s price movements often follow recognizable patterns across different cycles. This includes not just the bottoms of bear markets and peaks of bull markets around halving events, but also the reaccumulation phases that precede significant price increases. Popular analyst Rekt Capital opened up about these cycles in detail and what they mean for Bitcoin’s future. The Importance of Halving Events Halving events signify fundamental changes in Bitcoin’s protocol. They serve as critical reference points for identifying bear market bottoms and bull market peaks. Historically, significant price actions often occur around these halving events. For instance, in the 2016-2017 cycle, Bitcoin hit its bear market bottom 550 days before the halving and peaked 518 days after. This mirrored pattern occurred again in the recent cycle, with the bottom occurring 517 days before the halving and the peak following the same historical timeline. The Reaccumulation Phase Around halving events, Bitcoin typically sees a reaccumulation phase. This is characterized by sideways price action after initial price rallies. Pre-halving rallies often generate hype, followed by a period of disillusionment as traders realize gains take time to materialize. What’s Next for Bitcoin? If history repeats, the analyst expects another bull market peak approximately 518 to 550 days after the next halving event. Based on past cycles, this could mean a peak around mid-October 2025. Looking ahead, he anticipates breaking new all-time highs in November, followed by a 250-day uptrend as Bitcoin enters the price discovery phase. While there may be occasional dips, they are likely to be short-lived and present excellent buying opportunities. The Next 250 Days The next 250 days will be crucial for Bitcoin’s growth. After consolidating for eight months, Bitcoin is on the brink of transitioning to a more favorable market phase. He said that it’s important to remain invested and not…

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Filed under: News - @ October 28, 2024 7:23 am