In the current cycle, Bitcoin has only two to three months left for growth if it followed the historical model of 2020. This was stated by the analyst under the nickname Rekt Capital.
Based on the previous bull rally, the expert predicts the achievement of the peak in October – 550 days after the halving in the first cryptocurrency network.
Rekt Capital noted that many market participants ignore the reduction in the award for miners twice and predict the possible “extension of the cycle” until 2026.
According to the analyst, now the traders are “chasing” new metrics like the correlation of bitcoin with global liquidity, although he considers the use of new indicators – an impulsive reaction.
Earlier, Analysts of Standard Charted Bank said that halving no longer affects the price of the first cryptocurrency. They predicted its growth to $ 200,000 by the end of 2025.
The main drivers they called tributaries in spot ETF and purchases of bitcoin from corporations. It was they who violated the usual digital gold cycle.
Recall, as of the end of June, 96.7% of the first cryptocurrency proposal was in profit, indicating a high risk of volatility, Glassnode said.
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Source: Cryptocurrency
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