{"id":603133,"date":"2024-04-14T17:00:19","date_gmt":"2024-04-14T17:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=603133"},"modified":"2024-06-11T07:02:01","modified_gmt":"2024-06-11T07:02:01","slug":"bitcoin-bonanza-before-the-halving-analyst-sees-pre-crash-buying-window","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bonanza-before-the-halving-analyst-sees-pre-crash-buying-window\/","title":{"rendered":"Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window"},"content":{"rendered":"
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Drawing from historical precedents, Rekt Capital points to significant corrections observed in 2016 and 2020, where Bitcoin underwent retracements<\/a> of nearly 30% and 20%, respectively.<\/p>\n 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.<\/p>\n New YouTube video is live!<\/p>\n Bitcoin On The Cusp of a Deeper Retrace Before the Halving?<\/p>\n Check it out here:https:\/\/t.co\/LXyG5pv8Ws<\/a><\/p>\n Enjoy and Subscribe!#BTC<\/a> #Crypto<\/a> #Bitcoin<\/a><\/p>\n \u2014 Rekt Capital (@rektcapital) April 12, 2024<\/a><\/p><\/blockquote>\n 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.<\/p>\n 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.<\/p>\n <\/p>\n\n
Bitcoin Pre-Halving: Strategic Opportunity<\/strong><\/h2>\n
Total crypto market cap is currently at $2.267 trillion. Chart: TradingView<\/a><\/pre>\n