Parabolic

Bitcoin

Rekt

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/5-phases-of-the-bitcoin-halving-heres-where-the-btc-price-stands-at-the-moment/">5 Phases of ‘The Bitcoin Halving’-Here’s Where the BTC Price Stands at the Moment</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Bitcoin has been undergoing a strong accumulation phase for over a period now, maintaining an elevated trend in the short term. The minor price rise has been misjudged as an early bull run indicator, while the substantial backing differs a little. The BTC price is poised to rise and form new highs in the coming days as it has just entered the ‘pre-halving’ period.&nbsp;
Since the start of the year, the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> has been maintaining an ascending trend within a symmetrical triangle. Moreover, the rejections from the recent highs also substantiated the claim of accumulating within this pattern. If the previous historical trade plays out well, then after another 60 to 70 days of consolidation, the price is expected to rise high.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh6.googleusercontent.com/X7pXyEo0N0s6Sq5lSCV8ORzGA0Owx-LkbxJAwQC9ao4_0HNF44hNMFCGd76L1rAS7pr1SQe0et5mia75wafeEVJIm1L6RxhZwUGkAkcj3DfpCkkbbXpk_ofmb_DLnzPpwM9aSMt8ollE_5zzzkdZ3uo" alt="">
</figure>
A popular analyst, <a href="https://twitter.com/rektcapital/status/1710232389086032081" target="_blank" rel="noopener noreferrer nofollow">Rekt Capital</a>, mentions the ‘5 phases of Bitcoin halving’ and claims the price to just entered the pre-halving phase. The analyst also mentioned the impact on the price in the respective period as follows:
<ol>
 <li>Pre-Halving Period: The analyst claims the retracement could prevail over the next 140 days if it occurs in some days. Previously, the price retraced by 24% in 2015 &amp; 38% in 2019, approximately 200 days before the halving. Therefore, a 30% plunge could compel the price to reach $20,000&nbsp;</li>
</ol>
<ol start="2">
 <li>Pre-Halving Rally: The last 60 days before the halving is referred to as a pre-halving rally, as investors could probably ‘buy the hype’ in an effort to sell the news.</li>
</ol>
<ol start="3">
 <li>Pre-Halving Retrace: It is usually speculated to occur around the halving event, which forces investors to think about whether the halving event was a bullish catalyst or not. Previously, the BTC price retraced by 38% &amp; 20% in 2016 &amp; 2020, respectively.</li>
</ol>
<ol start="4">
 <li>Re-Accumulation: After the pre-halving retrace, a multi-month re-accumulation begins, where many investors usually get shaken out due to boredom, impatience, and disappointment as no major results are witnessed in their BTC investment.&nbsp;</li>
</ol>
<ol start="5">
 <li>Parabolic Uptrend: Once the BTC price breaks out of the re-accumulation area, it experiences accelerated growth on its way to new all-time highs.</li>
</ol>
Therefore, as per the analyst, the Bitcoin (BTC) price is closer to entering the pre-halving period and may undergo a deep retracement very soon.&nbsp;

5 Phases of ‘The Bitcoin Halving’-Here’s Where the BTC Price Stands at the Moment

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