Rally

Mirror

Bitcoin

Rekt

Bitcoin is now hovering around the $70,000 threshold after a notable recovery it witnessed a few days ago. Due to the recent momentum, crypto enthusiasts are becoming less pessimistic about the digital asset’s growth prior to the <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-halving-a-look-at-post-halving-performance/" target="_blank" rel="noopener ">halving event</a>. With the fast approaching much-anticipated Bitcoin Halving, Rekt Capital, a well-recognized cryptocurrency analyst and aficionado, has offered his market insights mapping out three distinct stages of the event for investors. 
<h2 id="3-distinct-aspects-of-the-bitcoin-halving">3 Distinct Aspects Of The Bitcoin Halving</h2> 
Rekt Capital’s analysis delves into <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-mining-difficulty-hits-record-high-in-halving/" target="_blank" rel="noopener ">Bitcoin</a>‘s movement before and after the halving takes place, which is expected to happen this month. In the seven days leading up to the occurrence, the crypto analyst underscored three stages to observe for a successful outcome. 
These three phases include the final pre-halving retrace, the re-accumulation phase, and the parabolic uptrend phase. Emphasizing on the first aspect, Rekt Capital noted that the pre-halving retrace is documented in the books and has already manifested. 
<img loading="lazy" decoding="async" class="size-medium wp-image-602945" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=460&amp;resize=460%2C325" alt="Bitcoin" width="460" height="325" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=1794 1794w, https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=460&amp;resize=460%2C325 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=120 120w, https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Rekt-Capital-Bitcoin-Chart-1.jpg?w=1140 1140w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
During this period, Bitcoin experienced an 18% pullback compared to 2016 and 2020’s retracement of 38% and 19%, respectively. The expert believes that the concluded pre-halving Retrace was the last chance to purchase a deal during the pre-halving phase. 
Following the conclusion of the retrace, Rekt Capital has confirmed the development has laid the groundwork for the Re-accumulation range. It is important to note that the aforementioned range occurs a few weeks ahead of the halving, and it ends with a breakout from it a few weeks later. 
Specifically, the period could last for several weeks and up to 150 days or five months. Given the manifestation of the range, sideways movement through the halving and beyond is the major purpose of BTC. 
Thus, the analyst has stressed the need to be patient around this phase, as many <a href="https://www.newsbtc.com/news/bitcoin/ultra-wealthy-investing-bitcoin/" target="_blank" rel="noopener ">investors</a>&nbsp;get frustrated, bored, and disappointed here because their Bitcoin investments lack significant returns. As a result, they lose confidence and get shaken out of the market before the event. 
<h2 id="btc-s-post-halving-rally-might-mirror-previous-trend">BTC’s Post-Halving Rally Might Mirror Previous Trend</h2> 
As for the parabolic uptrend, Rekt Capital claims the phase will begin when Bitcoin breaks out from the re-accumulation range. He further stated that the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-resumes-upside-why-btc-could-soon-hit-new-ath/" target="_blank" rel="noopener ">price of BTC</a> tends to grow more quickly and enters a parabolic upsurge during this stage. 
According to the expert, this area has typically lasted about a year or a little more, particularly around 385 days in the past. However, with the possible accelerated cycle that is currently in development, the period could be halved within this bull market cycle. 
Rekt Capital’s key perspectives came amidst Bitcoin demonstrating strength to revisit its current all-time high of $73,000. BTC has managed to amass gains of more than 6% in the past few days. 
It recovered to the <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-70000-despite-negative-taker-volume/" target="_blank" rel="noopener ">$70,000</a> level after plunging as low as $67,000 on Wednesday and is getting close to $71,000. At the time of writing, BTC was trading at $70,854, indicating over 6% increase in the past week. 
Its market capitalization is up by 1% and its trading volume has plummeted by more than 21% over the past day. Given the current trend in the coin market, BTC could be in a position to see even bigger gains in the months to come. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/uPdwXGHG/" alt="Bitcoin" width="2273" height="1351">

Bitcoin Halving RoadMap: Analyst Outlines 3 Phases For Market Dynamics

Inhoudsopgave

NewsBTC

Andere artikelen gepubliceerd op 12 apr 2024

Trader Predicts This New Multi-Chain Meme Coin Set to Explode on Launch

Fraud Victims Seek $4.3B in Seized Bitcoin from UK Authorities

Cryptocurrency Watch: Key Altcoins to Monitor This Week

LUNC Price: Why Buy Terra Classic Amid Bloodshed And Uncertainty

Hong Kong to reportedly approve first Bitcoin, Ethereum ETFs

Bitcoin (BTC) Breaks $70,000: $80,000 Next? XRP Secures Crucial Support Level, Solana (SOL) Paint...

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!