A popular crypto analyst, bitcoinHe thinks that (BTC) will hit bottom by the end of this year, but will recover in 2023.
In a new video update, Rekt Capital told its 45,100 YouTube subscribers what to expect from the leading crypto Bitcoin over the next six months.
The analyst examined previous market cycles of Bitcoin halving events, with BTC mining rewards halving every four years.
“About 450 to 400 days before the halving event, we see the macro downtrend ending. That’s the point.
A macro downtrend ends and a new macro uptrend begins. This coincides with leaving the accumulation gap.”
Koinfinans.com As we reported, looking at this historical pattern, Rekt Capital predicts when the BTC market will bottom out with its next planned Halving event.
“We will see a break into a new macro uptrend late in the first quarter of 2023.
It also means we will see a bottom in the fourth quarter of this year, maybe even November.”
The leading cryptocurrency BTC is trading at $22,878 at the time of writing.
The crypto analyst also launches Ethereum (ETH)-based oracle platform Chainlink (LINK). viewed and confirmed that LINK had a break:
“LINK successfully retested the top of the Falling Wedge pattern as support and confirmed the breakout.
All LINK needs right now is buy-side volume completion to allow the trend to continue beyond the black resistance at $7.78.”
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.