- Bitcoin could be one month away from a parabolic rally.
- The BTC bull market has progressed 43% based on standard halving cycles.
- BTC whales are eager to avoid a boring season with a flat YoY performance.
Crypto trader and analyst Rekt Capital predicts Bitcoin could see a parabolic bullish rally within a month. The analyst based his prediction on the flagship crypto’s historical behavior after the Bitcoin halving event.
In the post, Rekt Capital noted that the Bitcoin bull market is 43% complete, based on typical halving cycles. The analyst noted that it has been about 125 days since the last halving, and Bitcoin usually enters its parabolic phase around 160 days after halving.
According to the analyst, the next Bitcoin parabolic rally will kick off toward the end of September if history repeats itself. Rekt Capital supported his prediction with an illustrative diagram, highlighting significant moments in Bitcoin’s price behavior since the previous bull cycle started with the 2020 Bitcoin halving.
The analyst pointed out two key phases in each Bitcoin cycle – the post-halving reaccumulation and the post-halving parabolic upside. The 2020 post-halving reaccumulation phase lasted 161 days, leading to the parabolic upside. This time, Bitcoin has traded sideways in a reaccumulation pattern for approximately 126 days since the 2024 halving event.
Considering BTC’s past behavior, the analyst observed consistency, leaving him confident that the pioneer cryptocurrency will maintain its typical behavior. Rekt Capital’s assumption aligns with a prediction by Ki Young Ju, the founder of Cryptoquant, a famous crypto data analysis platform.
In a recent post, Ju highlighted that Bitcoin’s bull rally during the last cycle began in Q4, believing the scenario may repeat itself. According to him, Bitcoin whales are eager to avoid a season with a flat YoY performance.
Bitcoin traded for $61,230 at the time of writing, reflecting a 1.42% gain in the early hours of today’s trading session, according to data from TradingView.
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