Crypto analysts Willy Woo and Rekt Capital stress the importance of miner capitulation and hash rate recovery for Bitcoin's (CRYPTO:BTC) resurgence.
Woo notes that outdated miners facing reduced profitability post-halving are selling BTC or upgrading equipment, extending the current downtrend.
Unlike previous cycles, Bitcoin's hash rate recovery this cycle has been slow, surpassing 61 days.
Rekt Capital anticipates a 'parabolic uptrend' starting around September, with a market peak projected for September or October next year based on historical trends.
Both analysts advise investors to expect market retracements, emphasising Bitcoin's resilience and tendency to rebound after corrections.
They highlight that resolving miner issues and stabilising hash rates are critical for Bitcoin's future recovery and price growth.