Bitcoin Signals Potential Bear Market After Reaching Peak, Analysis Suggests

Bitcoin Signals Potential Bear Market After Reaching Peak, Analysis Suggests

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New analysis suggests that Bitcoin may have already reached its peak, initiating a bear market cycle. Based on historical behavior and post-halving cycles, the cryptocurrency's recent all-time high failed to sustain momentum, pointing towards a possible downturn.

An analysis from CryptoSlate suggests that if Bitcoin continues to follow its past cycles, the cryptocurrency has likely already reached its peak. Bitcoin printed an all-time high on Oct. 6 but failed to extend the move, coinciding with the post-halving clock approaching a peak zone previously observed in prior cycles. The article questions whether investors should 'hodl' or take profits, given the strong indication of a bear market cycle commencing around the $126k mark.