One widely followed crypto analyst is expressing amazement at Bitcoin’s (BTC) latest historic rise.
Pseudonymous crypto trader Rekt Capital shares his incredulity at BTC’s meteoric rise with his 400,000 followers on the social media platform X.
“Can you believe Bitcoin’s price has increased by almost $10,000 over the past 10 days?”
Speaking toward the commentary that often accompanies Bitcoin’s volatile up-and-down prices, the analyst pokes a little fun at the crypto community.
“With BTC rallying this much to the upside, many will doubt whether BTC will ever perform a pullback
But when a pullback occurs, many will doubt whether BTC will ever perform another rally”
According to the analyst, traders who bought into the crypto king last month due to a fear of missing out (FOMO) got lucky and have been up big since.
“Those who FOMO’d in on BTC in that week of January are probably up +30% on their positions.”
BTC is worth $52,322 at time of writing, up 15% in the last week and 21% in the last 30 days.
According to the analyst, the next ‘bargain’ opportunity for BTC traders during the pre-halving period is upcoming.
“The pre-halving retrace (dark blue circle) will be the last bargain-buying opportunity in the pre-halving period”
The pre-halving period refers to the time before BTC’s halving, a pre-programmed event that occurs approximately every four years and cuts BTC mining rewards in half. The next halving event is expected in April of this year.
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Author: Daily Hodl Staff
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