A highly regarded analyst who accurately predicted a decline in Bitcoin earlier this year suggests that the cryptocurrency may soon enter a highly volatile phase in the market cycle. In a video update addressed to his 91,000 YouTube followers, the analyst, known as Rekt Capital, states that Bitcoin could surpass its current trading range and achieve new all-time highs within a few weeks.

Rekt Capital explains, “We have been testing the $60,000 level for several weeks now, aiming for a move towards approximately $71,000. Although we are facing a series of lower highs, there is a good chance that we will break through these in the next few weeks. Once that happens, we will face the crucial resistance level in the low $70,000s. This will mark a significant shift from the re-accumulation phase to the parabolic phase of the market cycle.”

The analyst also draws on past market cycles to suggest that Bitcoin may reach its peak sometime around March 2025, approximately 330 days after the halving event in April 2024, which reduced miners’ rewards by half. Rekt Capital advises, “Around 250 days after surpassing the previous all-time highs would be the earliest moment to consider exiting the market, and at most, 330 days after the halving event. During the 80-day period following the halving, it will be particularly risky to hold digital assets. However, this is a discussion for another time, as we have yet to break the previous all-time highs. But it is only a matter of time.”

At the time of writing, Bitcoin is trading at $65,906, representing a 5.41% increase in the past 24 hours.

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