Bitcoin

Rekt

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-discusses-bitcoin-halving-effects/" data-wpel-link="internal">Analyst Discusses Bitcoin Halving Effects</a><br></p>
<p style="text-align: justify">In the widely-followed cryptocurrency markets, an analyst reminded that <a href="https://en.coin-turk.com/junes-crypto-market-developments-what-to-anticipate/" data-wpel-link="internal">Bitcoin</a>‘s (BTC) recent halving has not fully adjusted and this event halved BTC miners’ rewards. The expert made critical comments in his statements. Here are the details!</p> 
<h2 id="effects-of-halving-on-bitcoin">Effects of Halving on Bitcoin</h2> 
<p style="text-align: justify">Known by the pseudonym Rekt Capital, the cryptocurrency analyst stated to his followers on the social media platform YouTube that historically, Bitcoin has initiated a parabolic rally after halving. However, the analyst suggested that the real pricing for the halving usually occurs a few months after the event and said:</p> 
<blockquote> 
 <p style="text-align: justify">Bitcoin halving has not been priced in. According to historical <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, whenever we see a halving, we have seen an extraordinary rise at this point in the cycle. We had already seen all-time highs but continued to consolidate for a long time. It’s only a matter of time to reach all-time highs once again. Of course, this is not on a logarithmic scale, so I don’t expect the price to rise to $400,000 or whatever the case may be.</p> 
</blockquote> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-356048 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/bitcoin-6.jpg" alt="" width="1315" height="697"></p> 
<h2 id="analyst-s-historical-data-on-btc">Analyst’s Historical Data on BTC</h2> 
<p>The senior cryptocurrency analyst also emphasized that the cryptocurrency tends to see more than 150 days of consolidation, and lastly said:</p> 
<blockquote> 
 <p style="text-align: justify">Historically, before seeing a breakout towards a parabolic rally that lasts several months, we tend to see more than 150 days of consolidation. Currently, we are in a re-accumulation period again, so the longer we re-accumulate here, the better it will be for the inevitable upward trend that will emerge afterward.</p> 
</blockquote> 
<p style="text-align: justify">Rekt Capital recently suggested that Bitcoin is officially out of the dangerous zone where historical corrections occur during <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> cycles. However, he argued that BTC might not trigger major rises towards all-time highs until September of this year. At the time of writing, the flagship Bitcoin is trading at $68,580.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-discusses-bitcoin-halving-effects/" data-wpel-link="internal">Analyst Discusses Bitcoin Halving Effects</a></h5>

Analyst Discusses Bitcoin Halving Effects

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