{"id":570369,"date":"2024-01-19T17:00:07","date_gmt":"2024-01-19T17:00:07","guid":{"rendered":"https:\/\/wncen.com\/?p=570369"},"modified":"2024-06-11T08:44:25","modified_gmt":"2024-06-11T08:44:25","slug":"crypto-analyst-predicts-potential-trend-for-bitcoin-as-price-slips","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-predicts-potential-trend-for-bitcoin-as-price-slips\/","title":{"rendered":"Crypto Analyst Predicts Potential Trend For Bitcoin As Price Slips"},"content":{"rendered":"

Rekt Capital, a well-known cryptocurrency analyst and enthusiast, has revealed the potential directions that the <\/span>price of Bitcoin<\/span><\/a> could take in light of the upcoming fourth BTC Halving.<\/span><\/p>\n

Potential Retracement For Bitcoin<\/span><\/h2>\n

With the halving event approaching, analysts are debating what steps Bitcoin should take after its recent breach from the macro downtrend. One of those is Rekt Capital, who has weighed in on the particular issue and made a comparison to past trends.<\/span><\/p>\n

Related Reading: Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower<\/a><\/div>\n

The crypto analyst <\/span>shared<\/span><\/a> his latest projections during one of his YouTube predictions videos for Bitcoin. In the video, Rekt Capital delves in on the “next possible steps” that <\/span>BTC<\/span><\/a> is anticipated to take while highlighting “a breakout from its macro downtrend.”<\/span><\/p>\n

\"Bitcoin\"
BTC price action from 2015 -2023 | Source: Rekt Capital on YouTube<\/a><\/figcaption><\/figure>\n

His analysis focuses mainly on the reaccumulation range that formed prior to the halving event in 2015-1016 period. He further drew a comparison between 2023-2024 and 2015-2016, while noting similarities between the two periods.<\/span><\/p>\n

According to him, the trend that formed within that period has resurfaced in the current 2023-2024 period. “One of the things that contributes to that similarity is the reaccumulation that formed a few months before the halving,” he stated.<\/span><\/p>\n

Rekt Capital pointed out the possibility of a retracement around the <\/span>Bitcoin halving event<\/span><\/a>. This is due to a scenario proposed by the crypto analyst in which a reaccumulation range break triggers a retreat.<\/span><\/p>\n

An analogy to the cycle of 2015\u20132016 indicates a comparable rejection from a resistance level prior to the halving, which may have contributed to a possible retreat.<\/span><\/p>\n

Furthermore, he has highlighted that such retracements are indicated by historical data but stresses that they are often brief. However, he asserted that after the retrace, which is the “last opportunity,” we would see a price increase for Bitcoin.<\/span><\/p>\n

This surge will “turn the $46,000 price level into a new support level, and move to touch its old all-time high.” Rekt Capital also anticipates the price going beyond this level putting Bitcoin on a path to a new all-time high.<\/span><\/p>\n

Factors The Buttress BTC Value, ETFs Not Included<\/span><\/h2>\n

Samson Mow, the Chief Executive Officer (CEO) of Pixelmatic, has revealed several factors that boost Bitcoin’s value. Mow took to X (formerly Twitter) to <\/span>underscore<\/span><\/a> these factors with the crypto community.<\/span><\/p>\n

According to him, the value of Bitcoin is amplified by “scarcity, utility, and the failure of fiat.” Mow further insisted that <\/span>BTC Spot Exchange-Traded Funds (ETFs)<\/span><\/a> do not contribute to the token’s value.<\/span><\/p>\n

His X post came in response to CNBC’s “Mad Money” host Jim Cramer’s post over his comments on BTC’s current action. Cramer asserted that “no one showed up” after the approval of BTC ETFs, which led to a decline in price.<\/span><\/p>\n

Related Reading: Jim Cramer Says Bitcoin Is Topping Off, Time To Buy Bitcoin?<\/a><\/div>\n

Mow was displeased by Cramer’s claims, and he stated that many people were present while noting the net inflow. “A lot of people showed up. Just look at the net inflow and how much BlackRock, Fidelity, and others accumulated,” he stated.<\/span><\/p>\n

\"Bitcoin\"
BTC trading at $41,331 on the 1D chart | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock,\u00a0 chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Rekt Capital, a well-known cryptocurrency analyst and enthusiast, has revealed the potential directions that the price of Bitcoin could take in light of the upcoming fourth BTC Halving. Potential Retracement For Bitcoin With the halving event approaching, analysts are debating what steps Bitcoin should take after its recent breach from the macro downtrend. One of those is Rekt Capital, who has weighed in on the particular issue and made a comparison to past trends. Related Reading: Crypto Analyst Sounds Alarm: Bitcoin Price Set To Plunge Even Lower The crypto analyst shared his latest projections during one of his YouTube predictions videos for Bitcoin. In the video, Rekt Capital delves in on the “next possible steps” that BTC is anticipated to take while highlighting “a breakout from its macro downtrend.” His analysis focuses mainly on the reaccumulation range that formed prior to the halving event in 2015-1016 period. He further drew a comparison between 2023-2024 and 2015-2016, while noting similarities between the two periods. According to him, the trend that formed within that period has resurfaced in the current 2023-2024 period. “One of the things that contributes to that similarity is the reaccumulation that formed a few months before the halving,” he stated. Rekt Capital pointed out the possibility of a retracement around the Bitcoin halving event. This is due to a scenario proposed by the crypto analyst in which a reaccumulation range break triggers a retreat. An analogy to the cycle of 2015\u20132016 indicates a comparable rejection from a resistance level prior to the halving, which may have contributed to a possible retreat. Furthermore, he has highlighted that such retracements are indicated by historical data but stresses that they are often brief. However, he asserted that after the retrace, which is the “last opportunity,” we would see a price increase for Bitcoin. This surge will “turn the $46,000 price level into a new support level, and move to touch its old all-time high.” Rekt Capital also anticipates the price going beyond this level putting Bitcoin on a path to a new all-time high. Factors The Buttress BTC Value, ETFs Not Included Samson Mow, the Chief Executive Officer (CEO) of Pixelmatic, has revealed several factors that boost Bitcoin’s value. Mow took to X (formerly Twitter) to underscore these factors with the crypto community. According to him, the value of Bitcoin is amplified by “scarcity, utility, and the failure of fiat.” Mow further insisted that BTC Spot Exchange-Traded Funds (ETFs) do not contribute to the token’s value. His X post came in response to CNBC’s “Mad Money” host Jim Cramer’s post over his comments on BTC’s current action. Cramer asserted that “no one showed up” after the approval of BTC ETFs, which led to a decline in price. Related Reading: Jim Cramer Says Bitcoin Is Topping Off, Time To Buy Bitcoin? Mow was displeased by Cramer’s claims, and he stated that many people were present while noting the net inflow. “A lot of people showed up. Just look at the net inflow and how much BlackRock, Fidelity, and others accumulated,” he stated. Featured image from iStock,\u00a0 chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":565555,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,91154,1119,1144,78790,1368,8379,15885,82832,91240,69575,12413],"class_list":["post-570369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-bitcoin-spot-exchange-traded-funds","tag-btc","tag-btcusd","tag-btcusdt","tag-cnbc","tag-etfs","tag-jim-cramer","tag-mad-money","tag-pixelmatic","tag-rekt-capital","tag-youtube"],"acf":[],"yoast_head":"\nCrypto Analyst Predicts Potential Trend For Bitcoin As Price Slips<\/title>\n<meta name=\"description\" content=\"Rekt Capital, a well-known cryptocurrency analyst, and enthusiast has revealed the potential 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Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Predicts Potential Trend For Bitcoin As Price Slips","url":"http:\/\/wncen.com\/news\/crypto-analyst-predicts-potential-trend-for-bitcoin-as-price-slips\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-analyst-predicts-potential-trend-for-bitcoin-as-price-slips\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-1248674191.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-1248674191.jpg?fit=2120%2C1415"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin halving","bitcoin spot exchange-traded funds","btc","btcusd","btcusdt","cnbc","etfs","jim cramer","mad money","pixelmatic","rekt capital","youtube"],"dateCreated":"2024-01-19T17:00:07Z","datePublished":"2024-01-19T17:00:07Z","dateModified":"2024-06-11T08:44:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Predicts Potential Trend For Bitcoin As Price Slips\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-analyst-predicts-potential-trend-for-bitcoin-as-price-slips\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-analyst-predicts-potential-trend-for-bitcoin-as-price-slips\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/iStock-1248674191.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/iStock-1248674191.jpg?fit=2120%2C1415\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin halving\",\"bitcoin spot exchange-traded funds\",\"btc\",\"btcusd\",\"btcusdt\",\"cnbc\",\"etfs\",\"jim cramer\",\"mad money\",\"pixelmatic\",\"rekt capital\",\"youtube\"],\"dateCreated\":\"2024-01-19T17:00:07Z\",\"datePublished\":\"2024-01-19T17:00:07Z\",\"dateModified\":\"2024-06-11T08:44:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/iStock-1248674191.jpg?fit=2120%2C1415","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/570369"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=570369"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/570369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/565555"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=570369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=570369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=570369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}