Bitcoin Halving Update: What to Expect Next
As a crypto enthusiast, you must be curious about the current status of Bitcoinโs halving process. Letโs dive into the details shared by the renowned crypto trader and analyst Rekt Capital regarding the phases Bitcoin is going through and what you can expect in the coming days.
Bitcoinโs Timetable Progress
Here are the key insights that Rekt Capital has provided about Bitcoinโs halving phases:
โ The three phases of Bitcoin halving: pre-halving retrace, re-accumulation, and parabolic uptrend
โ Pre-halving retrace: lasts for weeks, occurring 28 to 14 days before the event
โ Re-accumulation: follows the retrace bottom, lasting up to five months
โ Parabolic uptrend: can extend for over a year
โ Comparison of retraces in 2016 and 2020 halvings
โ 2016: 38% retrace over four days
โ 2020: 20% retrace over eight weeks
โ Current: 18% decline in the past three weeks
โ Similarities between the current cycle and previous halvings
โ Potential repetition of pre-halving price tendencies
Entering the Re-Accumulation Phase
Key points about the re-accumulation phase of Bitcoin:
โ On-chain metrics indicating the start of re-accumulation
โ Resistance level at $70,000 suggesting the high re-accumulation range
โ Possibility of reaching the pre-halving bottom
โ Aim for BTC to move sideways leading up to and post the halving
โ Development of re-accumulation range near the all-time high area
โ Potential for shorter phase duration and regular sideways movement shape
Concluding Remarks
As a crypto enthusiast, you now have a better understanding of the current phase of Bitcoinโs halving and what to expect next. Stay tuned for more updates on Bitcoinโs halving process and how it impacts the crypto market.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.