With the volatility of the bitcoin market, many observers consider now a good time to buy the crypto. This is the case of analyst Rekt Capital. In his latest video, he dissects the patterns of corrective periods in the bitcoin cycle.
A good time to buy bitcoin according to Rekt Capital
In November 2022, analyst Rekt Capital identified five major corrections in this cycle. Previous pullbacks since the downtrend bottom in November 2022 range from 23% to 22%. However, the recent correction in April 2024, which started with an 18% decline, has deepened significantly. Rekt Capital considers this decline as a prolonged correction period, the largest of this cycle, surpassing the previous correction of 23%.
Rekt Capital argues that historically, when bitcoin approached a decline of around 20%, it provided a great buying opportunity before a rebound. As the current correction is greater than 20%, he sees it as a better buying opportunity than previous ones. Furthermore, he estimates that the decline in the value of bitcoin should not reach a critical level, and that it should stop around 24%.
A much longer correction than usual
Bitcoin price correction periods have typically lasted 21 to 63 days in the past. The current correction, spread over 49 days since March, therefore becomes one of the longest of the cycle. She’s getting closer to the two-month mark. For the Rekt Capital analyst, this is a sign that the correction could soon bottom out.
He also highlighted the importance of the period after the correction, explaining that it is a period of consolidation in the bitcoin cycle. Despite concerns about the duration of the current consolidation, Rekt Capital sees this as an opportunity for bitcoin to realign with historical halving cycles. This realignment could potentially lead to a bullish spike in crypto value from mid-September to mid-October 2025.
There is no certainty about what could happen during this period of correction in the value of bitcoin. However, historically this is a good time to buy this crypto. Moreover, some analysts believe that bitcoin is ready to take off.
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