The Two Witnesses
I believe the two witnesses, "the two olive trees, and the two candlesticks standing before the God of the earth" (Revelation 11:4), are Moses and Elijah, the two men that stand by the Lord at the transfiguration (Luke 9:30-31). I believe Revelation 11:4 is referring back to Zechariah, where it says "these two olive trees upon the right side of the candlestick and upon the left side... are the two anointed ones, that stand by the Lord" (Zechariah 4:11, 14).
I believe Moses and Elijah will appear in their original bodies in the tribulation, for they are killed at one point and their dead bodies lie in the street (Revelation 11:8). Elijah was taken bodily into heaven (2 Kings 2:11), and I believe Moses' body was recovered from Satan by Michael (Jude 1:9).
Note that the plagues brought on by the two witnesses of turning water to blood, shutting heaven so that it doesn't rain, and devouring their enemies with fire (Revelation 11:5-6), exactly match what Moses and Elijah did during their first time on the earth (Exodus 7:20; 1 Kings 17:1; 2 Kings 1:10).
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Same Time As Antichrist
Could the two witnesses be killed near the end of the tribulation? Could the 1,260 days of their sending plagues on the earth (Revelation 11:3-6) coincide with the 42 months of the Antichrist's rule (Revelation 13:5)?
Some say they are killed at the beginning of the Antichrist's rule, but if this were the case why would Revelation 11:15 say "The kingdoms of this world are become the kingdoms of our Lord" at the beginning of the Antichrist's rule?
Some say the Antichrist couldn't possibly rule during the time of the two witnesses. But while he has control of all unbelievers, and power to imprison and kill any saints he can find (Revelation 13:7), the two witnesses will be given miraculous power which will prevent them from being killed by anyone until their 1,260 days are over (Revelation 11:5).
The delusion sent by God (2 Thessalonians 2:11) won't be spoiled by anything (Revelation 9:20-21, 16:9-11), not even by the two witnesses.
Some point out that the Antichrist is still ruling unjudged by God at least 3.5 days beyond the 1,260 days of the two witnesses (Revelation 11:7-11). If the two witnesses begin at the abomination of desolation, it's possible the Antichrist could have 1263.5 days (42.11666 months) from the abomination of desolation until the vials begin to judge him, for note that it doesn't say the Antichrist rules unjudged for exactly 1,260 days, but only says 42 months (Revelation 13:5). God could be rounding down from 42.11666 months just as he rounded down 31.42857 cubits to 30 cubits in 1 Kings 7:23. (There the molten sea was 10 cubits across, so actually 31.42857 cubits would compass it around.)
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Their Raising Not The 1st Resurrection
I personally don't believe the raising and ascension of the two witnesses is the 1st resurrection and rapture because their raising and ascension is completed before the 7th trumpet even begins to sound, and is part of the 6th trumpet (or 2nd "woe"), which is an entirely different "woe" than the 7th trumpet (Revelation 11:11-15, 8:13, 9:12). I don't believe the 1st resurrection and rapture of the church will take place until after the "last trump" sounds (1 Corinthians 15:52, compare 1 Thessalonians 4:16).
I don't believe the 7th trumpet is the "last trump" because the Lord won't return and sound the last trump until "after the tribulation" (Matthew 24:29-31), the final stage of which I believe is the 7 vials. Between the 6th and 7th vials, Jesus exhorts us to hold on (Revelation 16:15). I believe this is the same blessing as Daniel 12:11-12, so that we must wait the full 1,335 days, not just 1,260, for the 1st resurrection and rapture.
I don't believe Christ will come to gather us up until the 7 vials are finished, for when Christ comes the Antichrist is destroyed (2 Thessalonians 2:1, 8). The Antichrist isn't destroyed when the two witnesses arise, for he is still gathering his armies after the 6th vial (Revelation 16:12-16), and isn't destroyed until the 2nd coming (Revelation 19:19-20), after the vials (Revelation 16).
Note that they only beheld the two witnesses rising in Revelation 11:12; they didn't behold the coming of Christ or the rapture and resurrection of the entire church. None of these are found in Revelation 11:12, just as none of these are found at the "come up hither" spoken only to the Apostle John over 1900 years ago in Revelation 4:1.
I don't believe the raising of the two witnesses is the 1st resurrection for the same reasons raisings in the past weren't the 1st resurrection. I believe the two witnesses are merely resuscitated back into their mortal bodies like Lazarus or those many after Christ's resurrection were raised (John 12:9-10, Matthew 27:52-53), and translated in their mortal bodies into heaven like Elijah and Enoch were taken into heaven (2 Kings 2:11, Genesis 5:24).
Note that neither "resurrection" nor "immortality" is used in Revelation 11:11. None of us can live even mortal lives without some measure of God's breath being breathed into us (Genesis 2:7; Job 33:4, 34:14-15).
No man has ascended into heaven (John 3:13) bodily by his own power, as Christ did, but it expressly says Elijah did ascend bodily into heaven and he was seen no more (2 Kings 2:11-12), and where would God have taken his beloved Enoch? (Genesis 5:24)
It's true that mortal flesh and blood can't "inherit" the kingdom of God (1 Corinthians 15:50), and I believe Elijah and Enoch haven't yet "inherited" it, and won't do so until the 1st resurrection at the 2nd coming. Note that there can be people living in a house who haven't yet inherited that house.
It doesn't say Elijah's body burned up when he stepped on the chariot, nor that God burned up Enoch. I believe God took them into heaven in their mortal bodies in the same way he will take the two witnesses into heaven.
THE SAME HOUR?
Note that it only says an earthquake happens in the same hour (Revelation 11:13).
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End-Time Elijah Fulfilling Malachi 4:5-6?
I believe it says that Malachi 4:5-6 was already fulfilled by John the Baptist: "He shall go before him in the spirit and power of Elias, to turn the hearts of the fathers to the children" (Luke 1:17), "For all the prophets and the law prophesied until John. And if ye will receive it, this is Elias, which was for to come. He that hath ears to hear, let him hear" (Matthew 11:13-15); "I say unto you, That Elias is come already, and they knew him not, but have done unto him whatsoever they listed" (Matthew 17:12).
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John The Baptist Reincarnated?
Note that the Bible doesn't teach reincarnation, for "it is appointed unto men once to die, but after this the judgment" (Hebrews 9:27). Reincarnation denies the coming judgment and eternal punishment in hell. It encourages people to continue in their sin without fear, believing they can die in their sin and work out any "bad karma" in their next life.
John the Baptist simply ministered in the same spirit that God gave to Elijah, just as Elisha did: "And he shall go before him in the spirit and power of Elias" (Luke 1:17); "The spirit of Elijah doth rest on Elisha" (2 Kings 2:15).
John expressly denied being Elijah: "Art thou Elias? And he saith, I am not" (John 1:21).
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Two Witnesses Not Literal?
I believe Revelation 11:7-8 refers to the literal dead bodies of the two witnesses who will be slain by the beast who will ascend out of the bottomless pit during the coming tribulation.
I believe Psalm 79:2-3 refers to the literal dead bodies of the inhabitants of Jerusalem who were slain by their enemies in ancient times.