Bitcoin

Rekt

<p><strong>Leading crypto analyst Rekt Capital recently <a href="https://twitter.com/rektcapital/status/1714239091816927713" target="_blank" rel="noopener noreferrer nofollow">outlined</a> why Bitcoin could still see significant downside despite breaking its macro downtrend and entering a new bull market.</strong></p>
<p>In a Twitter <a href="https://twitter.com/rektcapital/status/1714255411702870023" target="_blank" rel="noopener noreferrer nofollow">thread</a>, Rekt Capital noted that at comparable points in previous cycles, Bitcoin has retraced 25-38% before continuing its bull run.</p>
<p>Looking at market stages less than 190 days before Bitcoin’s halving events, there was a 25% pullback in 2015/2016 and a 38% correction in 2019. Rekt Capital suggests 2023 more closely mirrors 2015 so far.</p>
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<p>Even if this cycle rhymes with 2015, that would still imply a roughly 30% drop is possible from current levels over the next 4-6 months according to historical precedents.</p>
<p>While Bitcoin has shown strength breaking its downtrend, Rekt Capital cautions that substantial volatility is very common at this phase. The analyst’s message underscores smart risk management.</p>
<p>Past performance does not guarantee future results. However, analyzing market cycles often provides helpful context on probable scenarios for Bitcoin’s path ahead.</p>
<p>According to Rekt Capital, Bitcoin remains in a confirmed bull market. The question is whether an expected retracement arrives sooner or later. Maintaining a long-term perspective is key amidst interim fluctuations.</p>
<p>For now, the analyst’s takeaway is that investors should not rule out the likelihood of a 30% or greater pullback even amid an extended recovery. Bitcoin has seen similar drawdowns near halving events before continuing its ascent.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/why-does-a-top-analyst-predict-a-30-retracement-for-bitcoin/">Why Does a Top Analyst Predict a 30% Retracement for Bitcoin?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why Does a Top Analyst Predict a 30% Retracement for Bitcoin?

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