Bitcoin (BTC) Could Experience Parabolic Rally After 2024 Halving, Analyst Says
A trending cryptocurrency analyst believes that Bitcoin (BTC) could go through another parabolic rally and reach a new record-breaking peak after its halving in 2024. The pseudonymous analyst, known as Rekt Financial resources, implies that Bitcoin (BTC) has the capacity to surge over $80,000 in the months following the halving event. The halving, which occurs every four years and reduces miners’ bonus by half, is expected to take place in April 2024.
Short-Term Downtrend Possible Before the Halving
Although while Rekt Financial resources remains positive trend on Bitcoin (BTC) in the long term, he admits that Bitcoin could continue its downtrend before the halving. He advises cryptocurrency investors to stay resilient during this pre-halving period and benefit from any further price falls. According to Rekt Capital’s analysis, Bitcoin (BTC) may follow a similar pattern to its 2019 bear market cycle when it traded within a triangle formation before breaking out into a bull market.
Possible Path Towards Post-Halving Breakout
Rekt Capital’s chart indicates that Bitcoin (BTC) might confirm a triangle breakout in April 2024, followed by a rally towards his long-term target. As of now valued at $26,610, Bitcoin’s price is subject to fluctuations as it approaches the halving event.
Hot Take: Bitcoin’s Probable for Another Parabolic Rally
The upcoming halving event in 2024 may be a catalyst for another parabolic rally in Bitcoin’s price. Regardless of the likelihood of a short-term downtrend before the halving, the cryptocurrency market could witness whole lot of growth afterward. Investors are advised to stay resilient and consider taking advantage of any price falls during this pre-halving period. If historical patterns repeat, Bitcoin (BTC) may experience a breakout in April 2024, leading to a long-term upward trend. As Bitcoin’s value as of now stands at $26,610, it is critical for investors to closely monitor its performance and market conditions.
Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy’s insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding.
