Three Reasons Why Bitcoin (BTC) Is Already In A Confirmed Bull Market

2023-11-5 09:50

In the video “Three Reasons Why Bitcoin Is In A Confirmed Bull Market” by Rekt Capital, the top analyst provides an in-depth look at Bitcoin’s market cycles. By comparing today’s trends with historical data, Rekt Capital makes a convincing argument that Bitcoin is entering a new bull market. The analysis focuses on key details in Bitcoin’s price action over time to support the claim of an impending phase of prolonged growth. Breaking down market indicators and predictive models, the video lays out a clear case for Bitcoin’s transition into a bullish trajectory.

Break of Macro Downtrend

As explained by Rekt Capital in their video analysis, Bitcoin has broken its macro downtrend that has weighed down on price during previous bear markets. Historically, once this downtrend is broken, Bitcoin enters a new macro uptrend leading to new all-time highs. As Rekt Capital stated: “Every single bear market, we tend to see a macro downtrend weigh down on price… and then finally when this macro downtrend is broken, we enter into a new macro uptrend.”

The Halving Event

The upcoming Bitcoin halving event has preceded bull markets in the past. As Rekt Capital discussed, the market tends to start its bull run before the halving and continues to see parabolic growth afterwards. In their words: “We tend to see bull markets really turn parabolic 58 days after the halving to around 546 days after the halving… the closer we get to the halving, the uptrend is very much confirmed.”

Three Reasons Why Bitcoin Is In A Confirmed Bull Market The Four-Year Cycle

Bitcoin follows a four-year cycle that suggests we are currently in the trend reversal phase leading into a new bull market peak. Rekt Capital explained: “Candle 4 is going to be really exciting in 2024, which is also the year of the halving… we’re currently in Candle 3, which is the bottoming out candle, and this candle 3 tends to precede fantastic upside.”

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The analysis indicates significant potential growth for Bitcoin in 2024-2025, driven by the confluence of the halving and the four-year cycle. As Rekt Capital concluded: “Candle 4 is really going to be a fantastic year for Bitcoin… and not just 2024, it’s also going to be Candle One, the 2025 year, where we’re going to see parabolic price action as well.”

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