Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window

2024-4-14 20:00

Bitcoin, the pioneer and flagbearer of the digital currency realm, has once again captured the attention of investors. Recent market dynamics have prompted discussions among analysts and enthusiasts alike, with the spotlight firmly fixed on the possibility of a significant retracement in Bitcoin’s price.

Renowned crypto analyst Rekt Capital has examined the current state of the Bitcoin market, drawing parallels with historical cycles to offer insights into potential future movements.

As the market experiences a period of relative calmness compared to previous weeks, speculation abounds regarding the likelihood of a major retracement looming on the horizon.

Bitcoin: Historical Patterns and Potential Retracement

Drawing from historical precedents, Rekt Capital points to significant corrections observed in 2016 and 2020, where Bitcoin underwent retracements of nearly 30% and 20%, respectively.

Building upon this analysis, the possibility of a more substantial downturn, potentially around 40%, emerges as a distinct possibility. According to Rekt Capital, such a retracement could signify a crucial reaccumulation stage for Bitcoin, akin to patterns observed before previous halving events.

New YouTube video is live!

Bitcoin On The Cusp of a Deeper Retrace Before the Halving?

Check it out here:https://t.co/LXyG5pv8Ws

Enjoy and Subscribe!#BTC #Crypto #Bitcoin

— Rekt Capital (@rektcapital) April 12, 2024

Amidst these discussions, specific price levels take center stage in Rekt Capital’s analysis. Former resistance levels have transitioned into newfound supports, indicating a strengthening market foundation. However, the presence of sophisticated-level resistance has led to instances of “upside wick rejections,” where prices briefly surge before receding.

Bitcoin Pre-Halving: Strategic Opportunity

One of the key takeaways from Rekt Capital’s analysis is the notion of a “pre-halving retrace,” a phenomenon observed before previous halving events. This stage typically presents investors with a prime buying opportunity, as prices dip before the impending halving.

With Bitcoin’s halving event looming on the horizon, Rekt Capital advises investors to remain vigilant for potential entry points, as historically, such buying opportunities have been followed by significant price growth.

Expanding on the broader implications of retracement stages, Rekt Capital underscores the cyclical nature of Bitcoin’s market movements. Past retracements have invariably been succeeded by periods of consolidation, followed by upward trends, signaling potential gains for astute investors who can navigate these market dynamics effectively.

Investor Sentiment And Market Outlook

Rekt Capital’s observations have ignited fervent debate within the crypto community, with investors closely monitoring the market for signs of the anticipated retracement. With the countdown to Bitcoin’s halving event in full swing, anticipation is running high, and investors are poised to seize what could potentially be the last significant buying opportunity before the next major rally.

At the time of writing, Bitcoin was trading at $64,223, down 3.8% and 7.5% in the 24-hour chat and weekly timeframe, data from Coingecko shows.

Featured image from Pixabay, chart from TradingView

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 57472.99 (+0.23%)
Объем 24H $49.447b
Изменеия 24h: -4.14 %, 7d: -10.60 %
Cегодня L: $57248.27 - H: $58413.59
Капитализация $1131.923b Rank 1
Цена в час новости $ 64391.19 (-10.74%)

bitcoin among analysts enthusiasts alike discussions prompted

Источник: newsbtc.com

bitcoin among → Результатов: 126


Фото:

Markets Update: Most Cryptos Consolidating

The cryptocurrency meta-trend has seen most leading markets continue to grind sideways at key support zones, though there has been a slight bounce in the last few hours. Among the weakest performing major markets in recent days are tron (TRX), which has broken a critical ascending trendline following the bittorrent token (BTT) airdrop, and nem […] The post Markets Update: Most Cryptos Consolidating appeared first on Bitcoin News.

2019-2-1 17:15


Фото:

Bitfinex Partnered With at Least 6 Different Banks During 2018

22 months since Wells Fargo suspended the processing of withdrawals sent by four Taiwanese banks that service Bitfinex, the platform remains among the top 20 exchanges by adjusted volume. While Bitfinex hosted more than $5 billion in trade this past month, the exchange has struggled to establish reliable banking partners, with traders seeking to deposit […] The post Bitfinex Partnered With at Least 6 Different Banks During 2018 appeared first on Bitcoin News.

2019-1-29 13:00


Фото:

Samsung’s Upcoming Flagship Smartphone Could Feature a Cryptocurrency Wallet

As one of the most popular smartphone brands today, the possible new features of Samsung’s upcoming batch of gadgets are among the hottest topics within tech circles. Set to launch next month, the company’s newest flagship phone called the Samsung Galaxy S10 might offer an exciting feature specifically targeting the crypto crowd – a built-in cryptocurrency […] Samsung’s Upcoming Flagship Smartphone Could Feature a Cryptocurrency Wallet was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

2019-1-25 20:59


Фото:

Elections Canada Consults With Political Parties on Crypto Donations

According to Elections Canada, the agency that runs federal elections in Canada, there has been “a growing interest” in cryptocurrency donations. This trend has prompted some political parties to ask for a ruling on how best to manage bitcoin and other cryptocurrency political donations and how to navigate the various reporting systems required by both Elections Canada and the parties so that they comply with the Canada Elections Act.

2019-1-24 20:28


Ethereum Price Analysis: ETH Outperforms Among Top 3 Cryptocurrencies

Similar to the market leader Bitcoin, Ethereum underwent a bearish drop today but has since recovered and is currently recording an increase on the daily candle. If Fibonacci retracements are drawn from Decembers low to January’s early high, we can see that price has been finding support and resistance at a number of the levels.

2019-1-22 19:19


Фото:

An Introduction to TRON Smart Contract Development

When it comes to blockchain development, the community has bifurcated into assorted categories in terms of philosophy, preference, and tools. Among the various choices that companies have offered for developing and launching exclusive projects that can integrate blockchain technology, smart contracts have attained top-tier status when it comes to the go-to choice of connecting centralized systems directly to a blockchain.

2019-1-20 23:00


Фото:

Bitcoin Mining Getting More Decentralized As Bitmain Loses Dominance

Bitcoin mining has become so decentralized that six transaction confirmations now provide “complete protection” against double spending. Data: Mining Monopolies Dwindling That was the conclusion drawn among social media commentators analyzing the latest statistics about the Bitcoin mining industry, which as of January 16 showed no single pool controlling more than 11.

2019-1-18 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Bull Run: Past Its Prime, Or Poised For A Correction? Analyst Raises Eyebrows

Famed trader Peter Brandt has thrown a wrench into the gears of Bitcoin’s celebratory parade. In a recent analysis titled “Does history make a case that Bitcoin has topped?”, Brandt throws cold water on the idea of a limitless price surge, suggesting the cryptocurrency might be nearing the summit of its current bull run. Related […]

Bullish Litecoin: Mystery Signal Points To $100 Price Explosion

Litecoin (LTC) defied the overall sluggishness of Proof-of-Work (PoW) coins this week, climbing 4% to a two-week high of $86 on April 26. This surge has rattled short sellers and ignited a potential short squeeze, with analysts predicting a bullish run towards the $100 mark.

Bullish On Polkadot: Analyst Sees DOT Hitting $15 Soon

Polkadot (DOT), the interoperable blockchain platform designed for connecting different blockchains, is currently caught in a tug-of-war between technical indicators suggesting a potential price dip and bullish predictions from some analysts.