Several analysts think Bitcoin will see a major parabolic uptrend after the next halving in April 2024.
Analyst firm Rekt Capital recently posited a theory outlining the “five phases” of Bitcoin halving. The first phase, the pre-halving period, is marked by potentially lucrative investment returns following any major price drops. According to the analyst, we are currently in this phase, as BTC is constantly fluctuating between $40,000 and $44,000 following its more than 10% surge in November.
As the halving nears, a pre-halving rally is expected, driven by investors looking to capitalize on the hype. However, this is often followed by a pre-halving retrace, as seen in 2016 and 2020, with 38% and 20% dips, respectively. During the post-halving period, a re-accumulation phase sets in, characterized by investor impatience and boredom. The culmination is a parabolic uptrend, propelling Bitcoin to new all-time highs.
Head of the Blockware analysts’ team, Mitchell, challenges the common belief that the halving’s impact diminishes over time. He recently argued that the diminish
Go to Source to See Full Article
Author: Mohammad Shahidullah
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
