"Bitcoin bull market may reach its peak in October… Possible repeat of 2020 pattern"

Analysis has emerged that Bitcoin (BTC) could reach its peak within a few months.

According to Cointelegraph, a cryptocurrency-focused media outlet, the crypto analyst Rekt Capital recently stated on a YouTube broadcast, "This Bitcoin bull run could reach its peak as soon as this October. The remaining period of upward momentum may be around 2-3 months."

He explained, "If a cycle similar to the 2020 bull market repeats, October—about 550 days after the last Bitcoin halving (April 2024)—could be the top." He added, "Some investors tend to follow new indicators such as M2 (broad money supply) rather than the halving," and argued, "This approach may be an emotional reaction."

On the other hand, there are counterarguments that Bitcoin's bull market may not follow the traditional halving cycle. On the same day, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, analyzed, "Bitcoin has broken away from its previous pattern of declining within 18 months after the halving." Previously, in April, Standard Chartered forecast that Bitcoin could reach $200,000 by the end of the year.

Meanwhile, it is generally observed that an increase in M2 increases liquidity within the financial system, raising available investment capital and thus tends to boost demand for risk assets such as Bitcoin.