Bitcoin

Block

Rekt

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-poised-for-sustained-surge-prior-to-block-reward-halving" rel="noopener noreferrer nofollow">Bitcoin Poised for Sustained Surge Prior to Block Reward Halving</a><br></p>
<p style="text-align: justify">Noted cryptocurrency analyst Rekt Capital has expressed confidence that <a href="https://en.bitcoinhaber.net/bitcoins-surge-fueled-by-public-mining-firms-and-ordinals-protocol" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) is at the cusp of a significant rally as it approaches its upcoming 4th block reward halving. He suggests that there is potential for Bitcoin and other cryptocurrencies to climb even higher in the impending weeks. This optimism is rooted in the historical performance of Bitcoin leading up to past halving events.</p>
<h2 id="anticipating-an-extended-bitcoin-price-spike">Anticipating an Extended Bitcoin Price Spike</h2>
<p style="text-align: justify">In a recent YouTube presentation, Rekt Capital observed that historically, Bitcoin’s upswing in value tends to sustain for weeks ahead of its block reward halving. Bitcoin’s upcoming halving, expected in April, will slash the miners’ block reward by 50%. The analyst predicts a continued rally before a likely retreat or adjustment ensues, mirroring the pattern seen in previous cycles where the dip occurred weeks before the halving event.</p>
<p style="text-align: justify">Rekt Capital speculates that any pre-halving downturn will likely fall within the 15 to 20 percent margin. He views such a decline as a pivotal buying opportunity, likely to be the final one before a post-halving accumulation period, potentially heralding long-term gains.</p>
<h2 id="historical-pullbacks-as-indicators">Historical Pullbacks as Indicators</h2>
<p style="text-align: justify">The analyst draws parallels with past halving cycles, pointing to a 19% retracement in 2020 and an approximate 29% fall in 2016. His projected pullback range for the current cycle aligns with these historical figures and suggests an advantageous juncture for investment before the market enters the post-halving stage.</p>
<p style="text-align: justify">Currently, Bitcoin stands at a trading value of about $51,000, showing marginal depreciation in the last day. Nevertheless, Rekt Capital’s analysis indicates that the leading cryptocurrency’s value is likely to surge further up until mid-April, in anticipation of the halving event.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-poised-for-sustained-surge-prior-to-block-reward-halving" rel="noopener noreferrer nofollow">Bitcoin Poised for Sustained Surge Prior to Block Reward Halving</a></h5>

Bitcoin Poised for Sustained Surge Prior to Block Reward Halving

Table of Contents

BH NEWS

Other articles published on Feb 24, 2024

Bitcoin Bull Legendary Investor Robert Kiyosaki Answers the Question “What Will You Do If Bitcoin...

Flow Crypto Prediction: FLOW Rebounds Snapping Off Weekly Loses

Helium Crypto: Can HNT Crypto Show A Colossal Surge Next?

SEBI Utilizes Artificial Intelligence for Market Investigations, Emphasizes Transparency

Solana Approaches Crucial Levels: Will the SOL Price Drop Below $100 in the Weekend?

PEPE Eyes Major Price Movements, Analyst Predict Surge

Join our free newsletter for daily crypto updates!