Bitcoin

Rekt

Coin

<ul class="news-points"> 
 <li>Crypto Trader observes a retracement pattern 180 days before halving.</li> 
 <li>The 2016 spike seems to be greater than the 2020 spike, the 2024 spike could be lesser.</li> 
 <li>BTC has made higher lows since the beginning of 2023 and may reach more than $31.5K.</li> 
</ul> 
Crypto Trader and Analyst Rekt Capital tweeted that BTC could go through a period of retracement soon. As such, the analyst expects it to retrace by -30% whereby BTC could reach somewhere as low as $20,000. 
The analyst supplemented this notion by considering the pre-halving phase, where BTC retraced by -25 in 2015/2016 and -38 in 2019. In particular, BTC was retracing 180 days prior to BTC halving, hence, as there are approximately 180 days for BTC halving from now, the analyst put forward his prediction. 
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 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#BTC</a> Bitcoin is ~180 days away from its Bitcoin Halving At this point in the cycle, Bitcoin retraced -25% in 2015/2016 and -38% in 2019 History suggests a retrace is possible A -30% retrace from current prices would see Bitcoin drop to ~$20,000<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> <a href="https://t.co/B3ROO6FJEr" target="_blank" rel="nofollow">pic.twitter.com/B3ROO6FJEr</a>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1714311410757361886?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 17, 2023</a>
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</figure> 
When comparing the spike after <a href="https://coinedition.com/btc-halving-trading-strategy-may-prove-to-be-effective-analyst/">BTC halving</a> in 2016 with 2020, there is a consid…
The post <a rel="nofollow" href="https://coinedition.com/analyst-expects-btc-to-retrace-by-30-to-20k-will-it/">Analyst Expects BTC to Retrace by -30% to $20K, Will It?</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Analyst Expects BTC to Retrace by -30% to $20K, Will It?

Coin Edition

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