The Bitcoin (BTC) race reached a new record high in August, but seems to have trouble rising since then. For many investors the question arises: is this the end of the bullmarkt? A popular trader claims, and says that investors only have 30 days to take a profit.
‘The bull market is 100 percent over’
According to crypto analyst Philakone, the current upward cycle is almost over. He relies on historical patterns after previous Bitcoin Halvings. In 2017 the bullmarkt lasted 545 days after the Halving, in 2021 there were 525. Now the counter is 506 days since the most recent halving. The course has reached several record heights, which he believes that the peak has already been.
Philakone expects the present momentum to last a maximum of 30 days, followed by a correction. “It’s time to take a profit,” he says on X. “This bullmarkt is 100 percent over.”
Is it different this time?
Yet there are signals that indicate that Bitcoin’s four -year cycle is disturbed. Firstly, there has been an unprecedented inflow of institutional capital in recent years. This happened, among other things, via the American Spot Exchange-Traded Funds (ETFs), which since their launch in January 2024 makes it easier for companies to invest in Bitcoin and also recently Ethereum (ETH).
In addition, the number of public BTC holders has also increased considerably. These companies now have more than 1 million bitcoin together, good for more than 5.1 percent of the current circulating stock. This concentration of property makes price movements less dependent on private investors and at the same time ensures more stability.
Large institutional parties usually have a long -term vision and buy in price falls. That is in stark contrast with many private investors, who are led faster by being sold by emotions and are inclined to sell with sharp falls-which in turn can cause a negative domino effect.
In addition, it is still remarkably quiet among private investors. It is precisely this group that is known for a short time to ensure substantial price increases, often fueled by hype.
Not yet altseason
In addition, there has not been a real altseason so far. On the one hand, this may indicate that the bull market is not over yet. In earlier cycles we always saw that capital flowed to smaller altcoins after the peak of Bitcoin and Ethereum, before the final bear market started.
Cautious signals indicate that a new Altcoin madness is upcoming. The Altcoin Season Index, which measures how many altcoins perform better than Bitcoin, increases towards levels that historically indicate a wider rotation within the market. Some analysts do not speak of the end of the bull market. On the contrary, they expect a large Altcoin rally between October and March.
Source: https://newsbit.nl/komt-er-een-einde-aan-de-bitcoin-bullmarkt-dit-zeggen-analisten/
