Renowned on-chain analyst Checkmate is providing an updated perspective on Bitcoin’s current market cycle, suggesting that a significant upward parabolic move is on the horizon.

The pseudonymous analyst, who has a following of 90,000 on the social media platform X, believes that Bitcoin is likely to experience around six months of “chopsolidation” – a period of consolidation with no clear trend shift. Drawing from historical cycles, Checkmate predicts that after this phase, the cryptocurrency could see six to twelve months of parabolic advances.

Checkmate emphasizes the consistency of Bitcoin’s historical patterns, stating, “Bitcoin history tends to rhyme, and thus far, this cycle is no different. The song sung during the last two cycles paints around six months of chopsolidation ahead of us, followed by 6-12 months of parabolic advance.”

Despite some speculation that Bitcoin’s bull run has already reached its peak, Checkmate argues that this would deviate significantly from the typical market cycles of BTC. The analyst acknowledges the recent drop in Bitcoin’s price in April but explains that corrections like this are common during halving years, which tend to end on a bullish note.

By isolating the years in which Bitcoin halvings occurred (2012, 2016, 2020, 2024), Checkmate demonstrates that corrections of this magnitude are to be expected and that the end of these halving years usually brings strong performance for Bitcoin.

As of now, Bitcoin is valued at $63,433.

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