Bitcoin reached its all-time high (ATH) in mid-August and has been on a downward trajectory since then.
Despite this, Bitcoin’s recent rebound to $117,000 has sparked optimistic discussions among investors. Many are curious about the future performance of BTC following the latest price fluctuations.
Rekt Capital, a prominent analyst within the cryptocurrency space, has made an intriguing forecast.
The Final Phase of Bitcoin’s Bull Market!
In his most recent video update, Rekt Capital asserted that Bitcoin is now in the concluding stage of its bull market.
The analyst indicated that BTC is currently stabilizing around the $114,000 support level. This suggests we may be nearing the end of a correction phase and could be heading towards another peak in prices.
However, he also warned that after reaching new heights, there might be a gradual shift towards a bear market as we approach Q4.
“We are witnessing the concluding phases of this bull run.
Initially, we will gradually emerge from this correction period and start moving upward toward previous highs.
This will likely lead us into a slow but steady descent into bear territory.”
The Current Landscape for Ethereum and Solana
Beyond Bitcoin’s performance, Rekt Capital also offered insights regarding Ethereum (ETH) and Solana (SOL).
The analyst emphasized that for Ethereum to achieve new all-time highs, it must convert resistance at $4,613 into solid support levels.
Additonally,Rket Capital observed that Solana is maintaining crucial support levels while displaying bullish indicators. Historically speaking breaking through significant resistance points for SOL often results in price surges for the asset.
*This content does not constitute investment advice.