Rally

Long

Bitcoin

Rekt

<p>Bitcoin has demonstrated renewed vigor, recording double-digit gains over the past week and surpassing the $67,000 mark once more. At present, the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener">Bitcoin price</a> trades at $67,132, with a market capitalization of $1.322 trillion.</p> 
<p>Numerous market analysts assert that Bitcoin is presently in the re-accumulation phase, suggesting that the current juncture may represent the last opportunity for investors to secure favorable prices before Bitcoin embarks on its post-halving rally.</p> 
<h3 id="bitcoin-provides-final-bargain-opportunity">Bitcoin Provides Final Bargain Opportunity</h3> 
<p>Popular crypto analyst Rekt Capital explained that Bitcoin is currently in the final halving retrace before it resumes the uptrend. The analyst notes that in 2024 so far, the Halving Retrace reached -23.6%, marking the deepest retrace of the current cycle. This Halving Retrace represents the final bargain-buying opportunity in the immediate post-halving period.</p> 
<p>With the Halving Retrace now complete, it has established the foundation for the Re-Accumulation Range. This Re-Accumulation Range forms a few weeks before the Halving and ends with a breakout a few weeks afterward. As reported, there’s a strong <a href="https://coingape.com/markets/bitcoin-price-analysis-whale-accumulation-pre-ftx-levels-btc-rally-74k/" target="_blank" rel="noopener">Bitcoin whale accumulation</a> currently underway in the market.</p> 
<p>The range spans approximately $60,000 to $70,000, with occasional wicks extending beyond these boundaries. The Re-Accumulation phase can persist for several weeks, potentially lasting up to 150 days (or 5 months). Once Bitcoin breaks out from this area into a parabolic uptrend (green), it enters a phase of accelerated growth.</p> 
<figure id="attachment_197700" aria-describedby="caption-attachment-197700" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-197700" src="https://coingape.com/wp-content/uploads/2024/05/BTCUSD.jpeg" alt="" width="1794" height="1266" srcset="https://coingape.com/wp-content/uploads/2024/05/BTCUSD.jpeg 1794w, https://coingape.com/wp-content/uploads/2024/05/BTCUSD-300x212.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/BTCUSD-1224x864.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/BTCUSD-768x542.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/BTCUSD-1536x1084.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/05/BTCUSD-150x106.jpeg 150w" sizes="(max-width: 1794px) 100vw, 1794px">
 <figcaption id="caption-attachment-197700" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://x.com/rektcapital/status/1792236892668231922/photo/1" target="_blank">RektCapital</a>
 </figcaption>
</figure> 
<h3 id="btc-consolidation-phase-can-last-long">BTC Consolidation Phase Can Last Long</h3> 
<p>In 2020, Bitcoin experienced a -19% retracement around its halving event, followed by a 160-day consolidation period before entering a parabolic phase.</p> 
<p>Similarly, in 2024, Bitcoin has retraced nearly -24% around its halving. If historical trends repeat, the cryptocurrency could consolidate for up to 160 days before breaking out into a parabolic phase, signaling significant price increases. This analysis highlights the potential for a substantial price surge following a period of stability, offering insights into Bitcoin’s cyclical behavior post-halving.</p> 
<p>Santiment has observed that Bitcoin is hovering just above $66,100 as small traders continue to liquidate their holdings despite a crypto market rebound over the past week. Historically, the trend of small wallets selling their coins to larger wallets has been an encouraging and <a href="https://coingape.com/bitcoin-price-hit-new-highs-but-there-condition/" target="_blank" rel="noopener">bullish sign for Bitcoin</a>, it noted.</p> 
<figure id="attachment_197703" aria-describedby="caption-attachment-197703" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-197703" src="https://coingape.com/wp-content/uploads/2024/05/Bitcoin-small-wallets-.jpeg" alt="" width="2518" height="1734" srcset="https://coingape.com/wp-content/uploads/2024/05/Bitcoin-small-wallets-.jpeg 2518w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-small-wallets--300x207.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-small-wallets--1224x843.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-small-wallets--768x529.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-small-wallets--1536x1058.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-small-wallets--2048x1410.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-small-wallets--150x103.jpeg 150w" sizes="(max-width: 2518px) 100vw, 2518px">
 <figcaption id="caption-attachment-197703" class="wp-caption-text">
  Courtesy: <a rel="nofollow" href="https://x.com/santimentfeed/status/1792310926634631372" target="_blank">Santiment</a>
 </figcaption>
</figure> 
<p>The post <a href="https://coingape.com/bitcoin-is-providing-the-final-bargain-opportunity-before-post-halving-rally/">Bitcoin Investors Get the Final Bargain Opportunity Before Post-Halving Rally</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Bitcoin Investors Get the Final Bargain Opportunity Before Post-Halving Rally

Table of Contents

Coingape News Media

Other articles published on May 20, 2024

Meme Coin Mania Leaves Litecoin and Avalanche in its Wake with MoonBag Presale

Crypto Market Rallies As SEC Reportedly Moves Forward With Ether ETF Process

Why Bitcoin could hit $60,000 before a rally to $72,000

GameStop Price Prediction: Will GME Reach Record Highs Soon?

Ethereum on Edge: Analysts Weigh in on Potential ETF Decision Impact

Game-Changing Prediction: Experts Declare BEFE Coin Can Turn $100 into $200,000!

Join our free newsletter for daily crypto updates!