Bitcoin’s on a rollercoaster, and the next two weeks could be the wildest ride yet.
Crypto analyst Rekt Capital recently delved into Bitcoin’s journey leading up to the much-anticipated Halving in April 2024. According to him, the next two weeks might be a golden opportunity for investors to grab Bitcoin at what he terms “bargain-buying” prices.
Buckle up as we reveal a gold mine of insights!
Rekt Capital’s recent tweet sheds light on the ongoing Pre-Halving period, with approximately 77 days left until the Bitcoin Halving. Historical patterns suggest that current retracements could pave the way for significant returns post-halving. Yet, the recent -18% retrace in January raises interesting questions about its alignment with established historical patterns.
As time ticks away, Rekt Capital alerts us to a rapidly concluding 14-day period, hinting at the possibility of another Bitcoin price drop. Investors are urged to consider this period as a potential last chance to acquire Bitcoin at favorable prices.
Read More: Bitcoin Breaks $42k! Bull Run or Mass Liquidations – What’s Next?
With the Pre-Halving period winding down, Rekt Capital provides insights into the transition to the Pre-Halving rally phase. Around 60 days before the Halving, depicted as a light blue phase, investors typically adopt the “Buy the Hype, Sell the News” strategy. Short-term traders and speculators join in, creating a charged atmosphere of anticipation.
Post the excitement, Rekt Capital delves into the subsequent Pre-Halving retrace, marked by a dark blue circle a couple of weeks before the Halving event. Historical data highlights significant retracements in 2016 (-38%) and 2020 (-20%). This phase often prompts investors to question the expected bullish impact of the Halving on Bitcoin’s price.
It’s important to remain patient!
Following the Pre-Halving retrace, Rekt Capital guides us through the multi-month re-accumulation stage (red), lasting up to 150 days (5 months). Investors may face challenges during this period, dealing with boredom, impatience, and disappointment with immediate post-halving results.
As Bitcoin breaks free from the re-accumulation phase and enters the green zone denoting a parabolic uptrend, this marks the peak of the journey. It is during this phase that Bitcoin experiences accelerated growth on its way to new All-Time Highs.
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