For months, the BTC price has not approached new all-time record levels and BTC, stuck in a narrow range, has become exhausting. If BTC gets stuck at a certain point, it means deeper dips for altcoins. BTC falls and recovers more slowly, but altcoins cannot recover during this process, and losses increase. So when will it end?
When Will Bitcoin Rise?
It is impossible to give a definitive answer, but it is possible to make predictions based on historical data. Although historical data does not provide a definite price route, it has been giving successful results for years. For example, a rise was expected in 2023, and this happened while these historical signals indicated a turnaround from the bottom.
Then we experienced a rise supported by halving and ETF. This happened so quickly that for the first time in history, BTC saw ATH before the block reward halving. Then the nightmare began. Negative developments on the macro front, war, global recession, poor inflation data, sales in Germany and the USA, Mt Gox returns that have been awaited for 10 years, and now it should be time to take a deep breath.
Crypto Analyst’s Prediction
Rekt Capital has been making market predictions by observing historical structures for years. This is why he predicted major crashes or turnarounds. Although he has been wrong more often than other analysts, the perspective he offers can give investors the opportunity to read today and tomorrow from a different window.
“You might see a bit more consolidation, but we will start to recover towards the end of the year because as we enter 2025, we should see most of this upward movement happen. So the end of this year, leading into 2025, will be really exciting because we will transition from the first macro uptrend explosion, the first bull phase, to the second top phase of the cycle, entering the parabolic phase. We are not really far from this parabolic start, and it begins with a breakout from this reaccumulation range, and we do not have to wait long for this breakout to happen.”
As BTC was hovering around $58,800 while this article was being prepared, Rekt Capital and other bullish supporters were indifferent. However, if you remember the days when we experienced rapid rises, everyone would say, “I was expecting this” when the price started to increase. These days seem a bit like those days. Of course, crypto is full of surprises. A global recession, a new global disaster, power outages, and thousands of other things could suddenly become a reality for crypto one morning.
