Checkmate, a well-known analyst who closely monitors blockchain data, is revising his perspective on the current market cycle of Bitcoin (BTC) and suggests that a significant upward move is likely on the horizon.

In a recent update to his 90,000 followers on the social media platform, X, the anonymous analyst explains that, based on previous cycles, Bitcoin is expected to undergo around six months of “chopsolidation.” This refers to a period of consolidation characterized by choppy price movements and no clear trend shift. Following this phase, Checkmate predicts that Bitcoin may experience six to twelve months of parabolic advances, drawing from historical patterns.

Checkmate emphasizes that Bitcoin’s past market cycles provide a blueprint for its future behavior. While some speculate that the recent bull run in Bitcoin has already reached its peak, Checkmate argues that such a scenario would deviate significantly from the established patterns of previous cycles.

To support this viewpoint, Checkmate highlights the current correction in Bitcoin’s price, which has seen a drop of over $8,250 month over month in April alone. The analyst anticipates receiving messages from concerned individuals questioning the decline and expressing hope that he has sold his Bitcoin holdings.

Checkmate further examines the years in which Bitcoin halvings occurred, noting that corrections like the one experienced since March are typical during these periods. Additionally, he observes that the end of halving years tends to be highly bullish for Bitcoin.

To illustrate this point, Checkmate isolates the Bitcoin halving years (2012, 2016, 2020, 2024) and presents a table and chart showcasing the month-over-month performance. He asserts that corrections of this magnitude are normal and not exceptions to the rule. Furthermore, he highlights that the end of the year tends to exhibit substantial positive price movements, as evidenced by the provided charts.

As of the time of writing, Bitcoin is valued at $63,433.

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