Exploring the Potential Growth of Bitcoin After the Halving Event
Bitcoin is currently trading around the $70,000 mark following a significant recovery in recent days. As excitement builds around the upcoming Bitcoin Halving event, investors are feeling more optimistic about the digital asset’s future growth. Rekt Capital, a respected cryptocurrency analyst, has shared valuable insights into three distinct stages of the event, providing valuable guidance for investors looking to capitalize on potential opportunities.
The Pre-Halving Retrace, Re-Accumulation Phase, and Parabolic Uptrend
Rekt Capital’s analysis focuses on Bitcoin’s price movement before and after the halving event, set to take place this month. In the lead-up to the event, the analyst highlights three key stages to monitor for favorable outcomes:
- The Pre-Halving Retrace:
- Bitcoin recently experienced an 18% pullback, lower than the retracements seen in previous halving events.
- This retrace is considered the final opportunity to secure favorable deals before the halving.
- The Re-Accumulation Phase:
- Following the retrace, Bitcoin enters a re-accumulation range lasting several weeks to months.
- Sideways movement during this phase is crucial for BTC’s stability post-halving.
- The Parabolic Uptrend:
- Once Bitcoin breaks out of the re-accumulation range, it typically enters a phase of rapid price growth.
- This upsurge historically lasts about a year, but current market conditions suggest a shorter cycle.
Potential Upward Momentum for Bitcoin
Rekt Capital’s insights coincide with Bitcoin’s recent recovery towards its all-time high of $73,000. The cryptocurrency has seen a 6%+ increase in value, highlighting a potentially bullish trend for investors:
- Bitcoin rebounded from a low of $67,000 to surpass the $70,000 mark.
- Current trading prices around $70,854 indicate further gains in the past week.
- Market capitalization has increased by 1%, signaling growing investor interest.
- Despite a slight drop in trading volume, Bitcoin could continue its upward trajectory in the coming months.
By
By
By
By
By