Crypto Strategist Predicts Bitcoin’s Next Significant Rise
A crypto strategist, Rekt Capital, who accurately predicted the latest Bitcoin correction, details the timeline for Bitcoin’s next significant rise. He suggests Bitcoin has entered the post-halving reaccumulation phase and could see a significant upside move in the coming months, based on historical patterns.
Historical Patterns and Halving Event
In 2020, Bitcoin experienced a 19% retrace around the halving event and then consolidated for 160 days before entering a parabolic rise. In 2024, Bitcoin has retraced almost 24% around the halving, and if history repeats, it could consolidate for up to 160 days before another parabolic move begins.
Bullish Continuation Pattern and Bitcoin’s Progress
The analyst notes that Bitcoin has broken out of a bullish continuation pattern, confirmed by retesting resistance at $66,000 as support. On a broader scale, Rekt Capital indicates that the Bitcoin bull market has substantial progress still to achieve.
Bitcoin’s Current Price and Altcoin Rally Predictions
As of now, Bitcoin trades at $71,148, showing a 7.50% increase in the last 24 hours. Rekt Capital also predicts fresh rallies for other cryptocurrencies, marking the start of a new altcoin hype cycle.
