Bitcoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-rekt-capital-highlights-bitcoin-halving-as-potential-buying-opportunity" rel="noopener noreferrer nofollow">Analyst Rekt Capital Highlights Bitcoin Halving as Potential Buying Opportunity</a><br></p>
<p style="text-align: justify">In a recent analysis, popular investor Rekt Capital suggested that <a href="https://en.bitcoinhaber.net/the-rise-of-spot-bitcoin-etf-a-catalyst-for-the-crypto-market" rel="noopener noreferrer nofollow">Bitcoin</a> halving events may present a final opportunity for investors to purchase the <a href="https://en.bitcoinhaber.net/key-developments-in-the-cryptocurrency-market" rel="noopener noreferrer nofollow">cryptocurrency</a> at a discount before the start of macro uptrends. Rekt Capital’s latest YouTube content examines Bitcoin’s price drops during the 2016 and 2020 halving events, noting a 40% and 19% decline from local peaks, respectively.</p>
<h2 id="analysis-of-bitcoin-s-historical-corrections">Analysis of Bitcoin’s Historical Corrections</h2>
<p style="text-align: justify">Predictions based on past halvings propose that Bitcoin could potentially retreat to around $42,000, mirroring the 2020 event. Additionally, the analysis discusses the possibility of Bitcoin falling to even lower support levels at $37,000 and $31,000, drawing on patterns from previous halvings. CryptoQuant contributor Venturefounder offers further insights, referencing the 50-day moving average as a critical indicator of impending price corrections when Bitcoin has risen significantly above this trend line.</p>
<h2 id="indicators-suggest-possible-price-declines">Indicators Suggest Possible Price Declines</h2>
<p style="text-align: justify">Recent trends also suggest the Bitcoin price might decrease, with the 50-day moving average currently sitting at $45,700, a key level for dollar cost averaging among recent spot Bitcoin exchange-traded funds (ETFs) investors. Other data, such as the Short-Term Holder Profit Ratio (SOPR), indicate that the market may soon experience a sell-off. The SOPR reveals that short-term Bitcoin holders, who have owned the asset for 155 days or less, might soon reach a profit-taking threshold, historically associated with market retracements. Technical charts support this view, showing Bitcoin under resistance and potentially heading towards a $48,000 price point.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-rekt-capital-highlights-bitcoin-halving-as-potential-buying-opportunity" rel="noopener noreferrer nofollow">Analyst Rekt Capital Highlights Bitcoin Halving as Potential Buying Opportunity</a></h5>

Analyst Rekt Capital Highlights Bitcoin Halving as Potential Buying Opportunity

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