Future

Bitcoin

Rekt

Gains

Bitcoin is progressing through the initial stage of its halving process, aligning with forecasts made by cryptocurrency analysts, according to insights shared by crypto trader and analyst Rekt Capital. 
In a recent analysis, it has been noted that Bitcoin’s 18% decline over the past few weeks falls within the expected pre-halving market behavior, mirroring similar downturns observed in the lead-up to the second and third halvings. This pattern suggests that Bitcoin is poised to undergo familiar cycles of decline and subsequent surge, potentially reaching new peak values post-halving. 
The Bitcoin halving process, a pivotal event in the cryptocurrency’s lifecycle, encompasses three distinct phases: the final pre-halving retrace, re-accumulation, and a parabolic uptrend. Typically, the initial phase occurs between 28 and 14 days prior to the halving and can extend for several weeks. The ensuing re-accumulation phase follows the downturn’s bottom, potentially lasting up to five months, while the final phase can endure for over a year, marked by significant price increases. 
Historical precedents during the 2016 halving saw a 38% price retraction over four days, whereas the 2020 event experienced a 20% decline that spanned eight weeks. With a mere 13 days away, Bitcoin has seen an approximate 18% reduction in value over the last three weeks. 
Rekt Capital highlighted similarities between the current cycle and those of 2016 and 2020, suggesting a possible repetition of pre-halving pricing patterns observed in past events. The analyst emphasized that the pre-halving retrace phase presents a final opportunity for bargain purchases before entering the next cycle stage, establishing a low range for future re-accumulation. 
Indications from on-chain metrics suggest Bitcoin may be entering the re-accumulation phase, with the resistance level now set at $70,000. This phase typically commences after the market bottoms out post-retrace, signaling that the pre-halving low might already be established. Rekt Capital posits that the market’s objective at this juncture is to maintain sideways movement until and after the halving event. 
This cycle’s re-accumulation phase appears to be forming around the new all-time high territory, which may abbreviate the phase’s duration, leading to a quicker transition into the characteristic sideways market movement observed thus far. 
This analytical perspective offers a detailed examination of Bitcoin’s current trajectory as it navigates through its halving process. It sheds light on the potential market dynamics and investor opportunities in the lead-up to and following this significant event. As the cryptocurrency sector watches closely, Bitcoin’s behavior in these critical weeks could set the tone for its performance in the months and years ahead. 
The post <a href="https://micky.com.au/bitcoins-18-dip-pre-halving-a-predictable-cycle-sparking-future-gains/">Bitcoin’s 18% Dip Pre-Halving: A Predictable Cycle Sparking Future Gains</a> appeared first on <a href="https://micky.com.au">Micky</a>.

Bitcoin’s 18% Dip Pre-Halving: A Predictable Cycle Sparking Future Gains

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