While the crypto market follows a volatile course, analysts also come up with different predictions. A popular analyst with the pseudonym Rekt Capital says Bitcoin will soon make a parabolic move similar to previous market cycles. The analyst also explains the key to the rise for altcoins. On the other hand, the analyst nicknamed Crypto Capo expects a collapse after an upward move for Bitcoin and altcoins.
Rekt Capital creates the road map for Bitcoin
cryptokoin.comAs you follow from , leading crypto Bitcoin witnessed sharp movements. While BTC was going to 30 thousand dollars, it managed to get back 40 thousand dollars. However, it is unclear what course of action it will take from now on. Rekt Capital predicts that Bitcoin’s price pattern will follow similar phases in previous halving years, including 2020 and 2016. The next halving event will take place in April. Thus, miners’ rewards will be halved. According to the analyst, Bitcoin’s price movement is likely to go through three different phases before the parabolic fourth phase. In this context, the analyst makes the following statement:
Bitcoin parabolic uptrend (green) entry requirements:
- Surviving the current retreat (orange).
- Survive the pre-halving flashback (dark blue circle).
- Getting rid of reaccumulation after halving (red). Is it easy enough? Let’s go.
The analyst also warns that Bitcoin may experience a significant correction leading up to the halving event, similar to the years before the halving. In this regard, the analyst said, “If you are tired of this current decline in Bitcoin, wait until the halving event, when the price will drop by at least another 20%.” says.
To rise, altcoins must achieve this!
Rekt Capital also looks at the market outlook for altcoins. He predicts that the total market cap of altcoins, excluding the top 10 crypto assets by market cap, should be maintained at a key level around $189 billion on a weekly closing basis for altcoins to continue their upward trend. In this context, the analyst shares the following assessment for altcoins:
In order for the altcoin market value to continue its upward trend, it must maintain the current black triangle market structure. It is currently testing its base for support. Downward wicks below are allowed. But it needs to hold for the uptrend to have any chance of continuing.
The current total market cap, excluding the top 10 cryptos, stands at $187.68 billion at the time of writing.
“Altcoins will first rise, then there will be a complete collapse!”
Crypto Capo also evaluates the crypto market outlook. Similar to Bitcoin, the analyst is bullish for altcoins in the short term. However, he remains true to his prediction of violent collapse thereafter. In this regard, the analyst makes the following statement:
It is currently testing a major support. Wave 5 of C is missing and major resistance has not been reached yet. It also looks like most altcoins are looking for a final rally. So I added a little more to altcoins (30%). Last leg up, then a full swing to new lows.
Meanwhile, Crypto Capo also shared its predictions for Bitcoin last week. The analyst predicts a similar scenario for Bitcoin. In this regard, Crypto Capo says the following:
BTC plan: After the other day’s sell-off, the funds reset and the price formed an LTF bottom formation. There is a lot of liquidity above the recent high. Therefore 50k before reversal is still possible. Also, altcoins look set to pump. LTF rise. Then the decline again.
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