Analyst Announced: Bitcoin Will Continue to Rise Until This Date!

Rekt Capital, an important figure in the cryptocurrency market and with a large following, has a strong belief that Bitcoin’s pre-halving rally is still in its early stages. Based on historical data, the analyst argues that Bitcoin’s uptrend before the halving may last even longer.

A halving event is an event in which Bitcoin’s block reward is halved and usually causes large fluctuations in the cryptocurrency market. However, according to Rekt Capital, the effects of this event are still not fully visible and its effects on the price of Bitcoin may last even longer.

According to analysis by Rekt Capital, the pre-halving rally usually begins a few weeks before the halving event and can lead to large increases in Bitcoin prices. However, he believes that the peak of this rally has not been reached yet. The analyst suggests that Bitcoin’s price may experience a pullback ahead of the halving, but this has not happened yet and therefore the rally may continue.

“The conclusion here is that the pre-halving rally has technically just begun and it is a little too early to talk about the final pre-halving pullback. This pre-halving retreat usually occurs a few weeks before the halving event. And that means we have a few more weeks; “It doesn’t matter whether we hover higher for a few more weeks, whether we experience a period of reaccumulation at the highs before a retest or pullback, or whether we see a slightly more limited rise before that pullback occurs.”

Bitcoin halving event

The investor claims that a conservative estimate for Bitcoin correction before the halving event could be a drop of 15% to 20%.

“Generally speaking, we need to see at least two to three more weeks of further upside, three weeks generally; That is, whether it is a rise, a period of reaccumulation, or a limited rise. Still, we are not in the final retreat phase before the halving. And when we talk about pullback periods, in 2020 it was a 19% pullback… But in 2016 we saw 29%. So at this point in the cycle a drop of anywhere between 19% and 30% can be expected. This cycle itself, maybe a little bit more conservative and only down 15% or 20%. Whatever this pullback is, it will be the last pullback before the halving and will be the last bottom buying opportunity before moving into this post-halving post-halving period of reaccumulation that will last quite a while.”

In Rekt Capital’s view, the coming weeks may offer further upside potential for Bitcoin. However, it is important to remember that cryptocurrency markets are inherently highly volatile. Therefore, investors should carefully evaluate the risks before making their investments and act according to their own strategies. It is always wise to seek expert advice and keep abreast of market trends.

Bitcoin is trading at $50,958, with a slight increase in the last 24 hours.

You can follow the current price movement here.

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