Analyst Predicts Potential End of Bull Market for Bitcoin This Fall

In the current cycle, Bitcoin has just two to three months left for an upward movement if it adheres to the historical pattern observed in 2020, according to an analyst known as Rekt Capital.

Based on the previous bullish rally, the expert predicts a peak in October, which would be 550 days after the recent halving of the leading cryptocurrency.

Rekt Capital pointed out that many market participants are overlooking the halving event’s impact, which reduces miners’ rewards by half, and are instead anticipating a potential «extension of the cycle» until 2026.

«Many individuals are quick to dismiss time-tested principles, when in reality it’s crucial to rely on such metrics, as they won’t affect you as drastically as if you were to throw everything out the window,» he added.

According to the analyst, traders are now «chasing» new metrics like Bitcoin’s correlation with global liquidity, despite his belief that utilizing new indicators is an impulsive reaction.

«These factors are also emotional, and you don’t want emotions clouding your judgment,» emphasized Rekt Capital.

Previously, analysts from Standard Chartered stated that the halving no longer influences the price of the leading cryptocurrency. They forecasted a price increase to $200,000 by the end of 2025.

They identified the main drivers as inflows into spot ETFs and corporate purchases of Bitcoin, which have disrupted the traditional cycle of digital gold.

As a reminder, as of the end of June, 96.7% of the supply of the first cryptocurrency was reportedly in profit, indicating a high risk of volatility, according to Glassnode.