Analyst: Bitcoin bull run may fade in 2-3 months

PANews reported on July 4 that crypto analyst Rekt Capital said in a video that if the Bitcoin cycle continues the trend of 2020, the market is likely to peak in October, 550 days after the Bitcoin halving in April 2024. Rekt believes that many market participants ignore the halving cycle and predicts that the "cycle extension" may last until 2026. These participants are putting aside halving cycle indicators to "chase new narratives," such as Bitcoin's correlation with the global M2 money supply. But Rekt Capital said that chasing new Bitcoin indicators is "an emotional behavior." However, some cryptocurrency analysts believe that the typical Bitcoin halving cycle is now less reliable given the surge in Bitcoin adoption by institutional investors, which has not appeared in previous cycles.