Many Bitcoin (BTC) investors are currently craving an explosive upward price movement. The price has been moving sideways for quite some time, to the frustration of many.

However, further consolidation between roughly $60,000 and $70,000 could actually be positive for the remainder of the current cycle. Well-known crypto analyst Rekt Capital explains why.

Bitcoin is slowing its accelerated cycle

With the Bitcoin halving behind us, many crypto holders are starting to run out of patience for the start of a major bull market. However, the Bitcoin price appears to be in little hurry and has actually moved sharply in the opposite direction since the fundamental event.

After Bitcoin reached its all-time high of nearly $74,000 in mid-March, things have really only gone downhill. However, one should not forget what an impressive rise Bitcoin has experienced during the first quarter.

For the first time ever, Bitcoin surpassed its all-time high before the halving. In the past, this only happened months after the rewards for the miners were halved. For that reason, many analysts expect an accelerated cycle. This also applies to Rekt Capital.

According to the well-known analyst, with more than 460,000 followers on social media platform However, since the price has already reached a new high much earlier, we could potentially be in an accelerated cycle with a top sometime at the end of this year or early next year.

In a recent post on

“The current rate of cycle acceleration has been reduced from 260 days to around 210 days, thanks to Bitcoin’s current two-month consolidation period,” the renowned analyst said.

BTC price leaves ‘danger zone’

Rekt Capital has also often pointed out to its huge follower base that historically the price enters the “danger zone” immediately after the halving, which is accompanied by significant price drops. This time too, BTC has made a big slip again. At the time of the halving, on April 20, the price was around $63,000; however, a low of below $57,000 was reached last week.

According to Rekt Capital, we are now in the so-called ‘post-halving re-accumulation phase’: a period of boredom, impatience and disappointment, characterized by sideways price action.

In previous cycles it took weeks to months before the long-awaited parabolic phase arrived. There is of course no guarantee that the price will shoot up like a rocket again, as in the past. However, many Bitcoiners look to the near future with hope.

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