Parabolic

Bull Flag

Bitcoin

Rekt

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-next-parabolic-move/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Next Parabolic Move</a> 
Bitcoin‘s (BTC) recent correction was accurately predicted by a cryptocurrency analyst known as Rekt Capital. Now, the analyst is in the spotlight for predicting the timeline of the next parabolic move of the largest cryptocurrency. The analyst also painted a positive picture for altcoins, raising expectations. 
<h2 style="text-align: justify" id="strong-bitcoin-ready-to-show-strength-strong">Bitcoin Ready to Show Strength</h2> 
Rekt Capital, an anonymous cryptocurrency analyst, shared his views with his followers on the social media platform X, stating that Bitcoin has entered a new accumulation phase after its block reward halving. Based on past <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, he suggested that Bitcoin could be just months away from a significant rise. 
The analyst pointed to the post-2020 Bitcoin block reward halving period, where Bitcoin experienced a 19% pullback and then consolidated for 160 days before entering a parabolic phase. Rekt Capital noted that Bitcoin experienced nearly a 24% pullback immediately after the 2024 block reward halving. If history repeats itself, Bitcoin could consolidate for up to 160 days before entering another parabolic phase. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-353871" src="https://coin-turk.com/wp-content/uploads/2024/05/Bitcoin-BTC-Altcoin-1.jpeg" alt="" width="1794" height="1266"> 
Analyzing Bitcoin’s daily chart, Rekt Capital emphasized that after retesting the resistance at $66,000 as a support level, the largest cryptocurrency seemed to have broken out of a bullish continuation pattern. Confirming this breakout, he said, “The continuation of the uptrend is secured. The Bitcoin Bull Flag formation breakout is confirmed. This indicates a strong bullish trend for Bitcoin.” 
Moreover, Rekt Capital shared a chart showing that Bitcoin’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">bull market</a> is still in its early stages. Marking the current position with a green circle, he indicated significant growth potential ahead. 
<h2 style="text-align: justify" id="strong-altcoins-expected-to-rally-in-hype-cycle-strong">Altcoins Expected to Rally in Hype Cycle</h2> 
In addition to Bitcoin, Rekt Capital is also optimistic about altcoins. He suggested that a new <a href="https://en.coin-turk.com/sei-altcoin-may-experience-a-decline-2/" data-wpel-link="internal">altcoin</a> rally is imminent, heralding the beginning of the Second Quarter Altcoin Hype Cycle. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-353866" src="https://coin-turk.com/wp-content/uploads/2024/05/Altcoinler.jpeg" alt="" width="1280" height="720"> 
Emphasizing that the current market movements are just the beginning, Rekt Capital said that a period of significant gains for altcoins is rapidly approaching. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-next-parabolic-move/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Next Parabolic Move</a></h5>

Analyst Predicts Bitcoin’s Next Parabolic Move

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