It looks like Bitcoin could be in for a steady climb, with some experts suggesting that this current rally might not slow down any time soon. According to the well-known crypto analyst Rekt Capital, who regularly shares insights with his 500,000 followers on X, Bitcoin will continue to record gains in the coming days.
Right now, Bitcoin sits just under $89,000 after setting a new all-time high of $89,517 on Monday, according to CoinMarketCap. This is a huge jump—almost $30,000—in less than a month! Rekt Capital sees this as just the beginning of a sustained rise, with limited dips along the way. He explains that Bitcoin’s history suggests we could be in a phase where prices move mostly upward without major pullbacks for a few more weeks. This period of “uninterrupted upside,” as he calls it, is often part of the first wave of “price discovery,” where Bitcoin finds new highs after breaking past previous records.
#BTC history suggests that we may not have a deeper pullback for a few more weeks
Until then, we’ll be lucky to get any brief dips in the meantime
Generally, the first multi-week Price Discovery wave tends to enjoy mostly uninterrupted upside$BTC #Crypto #Bitcoin https://t.co/aiMo3DXK7a
— Rekt Capital (@rektcapital) November 11, 2024
Looking even further ahead, Rekt Capital highlights Bitcoin’s historical patterns around the halving cycles, which occur roughly every four years. These events, when Bitcoin’s mining rewards get cut in half, often set the stage for big price movements. By looking at the past two halvings, Rekt Capital suggests that Bitcoin may reach its bull market peak around October 2025. Here’s how he breaks it down:
- In 2016, Bitcoin hit its lowest price 547 days before the halving, and it reached a bull market peak 518 days afterward.
- For the 2020 cycle, Bitcoin bottomed out 517 days before the halving and peaked 549 days later.
- For the 2024 halving, which followed a similar timeline, Bitcoin’s peak might fall roughly 549 days after the halving—around October 2025.
If this pattern holds, it could mean the best part of the bull run still lies ahead.
Bitcoin bottomed 547 days prior to the 2016 Halving but topped in its Bull Market 518 days after the 2016 Halving
Bitcoin bottomed 517 days prior to the 2020 Halving but topped in its Bull Market 549 days after the 2020 Halving
Bitcoin bottomed 517 days before the 2024… pic.twitter.com/QUGuDFUjXv
— Rekt Capital (@rektcapital) November 11, 2024
Rekt Capital even suggests a possible year-end target based on historical performance. In a recent post, he explained that Bitcoin’s price in the fourth year of its cycle, or “Candle 4,” tends to see big gains. For example, during the 2020 cycle, Candle 4 shot up by over 106% after breaking key resistance. If Bitcoin repeats this same move in the 2024 cycle, it could close out the year around $96,500.
The 2020 Candle 4 rallied +106% after breaking its respective 4-Year Cycle resistance ($13856, black)
If Bitcoin were to repeat a +106% move in this current 2024 Candle 4, it would end the year at $96500$BTC #Crypto #Bitcoin https://t.co/8p2Hsygp8C pic.twitter.com/sI8IHv2QPH
— Rekt Capital (@rektcapital) November 11, 2024
Should Rekt Capital’s analysis holds, Bitcoin could see not only a strong finish this year but also a potential peak in late 2025. For you Bitcoiners out there, it means exciting times ahead!
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