In Bitcoin’s dynamic market, analysts’ predictions and comments often attract the attention of investors. Analyst Rekt Capital, an important voice on the future of Bitcoin, also predicts that the cryptocurrency is preparing for a parabolic move and the current period of consolidation may end.
Rekt Capital’s analysis in question appeared in a new video update published on YouTube. The analyst claimed that Bitcoin’s current value will not last for a long time and the cryptocurrency may reach historical highs soon.
Rekt Capital emphasizes that Bitcoin’s current price levels are an intermediate accumulation period, indicating that the market is preparing for a big move. According to the analyst, every correction or consolidation experienced during this period is part of the preparation process for Bitcoin’s potential parabolic rise.
The analyst also notes that based on historical data, Bitcoin’s parabolic uptrend usually begins after the halving event. In this case, Bitcoin is expected to experience a significant rise within a few weeks or months after the halving.
“This reaccumulation range at higher levels (around $70,000) is just noise and is setting us up for a bigger move.
And it’s a matter of when rather than if, and it’s also a matter of time, because the more consolidation we can do here, the more opportunities we have for bargain buying before we inevitably make a fantastic move to the upside. So any pullback, any consolidation, are the last bargain buying opportunities before going parabolic.
NEWS CONTINUES BELOWHistorically, this parabolic rise should occur after the halving and for several weeks or even months after the halving.”
The analyst also suggests that the parabolic rise that usually follows Bitcoin’s halving events could occur earlier than usual in this cycle due to the influence of spot Bitcoin exchange-traded funds (ETFs) launched in January. Bitcoin has already reached its all-time high this cycle earlier than historical price patterns.
“Once we break through these old all-time highs, we will engage in price discovery and go into a parabolic rally that will really significantly shorten the pre-halving phase, the reaccumulation phase, and that will take us to all-time highs, a parabolic rally that has never been done before, and that is understandable.” “It’s a situation because we see ETFs playing a role in the price movement.”
Bitcoin is trading at $70,017 at the time of writing.
You can access current market movements here.
