Analyst and trader leans bullishly on Bitcoin (BTC), despite the 13% increase in value of this flagship cryptocurrency asset over two weeks.
Rekt capital, a pseudonymous analyst who has 89.500 YouTube subscribers, says that Bitcoin will soon surge higher.
This is the moment when Bitcoin will start to transition into its parabolic phase.
“We have just a few days to transition from the accumulation phase into the parabolic phase for the cycle before we can effectively enter that breakout phase.”
According to the pseudonymous expert, Bitcoin may fall as low as a single-digit percent before it breaks out.
But we still have to confirm this because, technically, some dips could be seen into the $60600 range to test the low of the reaccumulation area and find new support. It’s that exact expansion of the price range which would allow it to revisit the highs [around $73,800] to potentially break out .”
Rekt Capital predicts that Bitcoin will reach its peak in the second quarter of 2025, if past history is repeated.
“When we reach the old peak region of the market (after 2012’s halving we will spend 250 days [after 2016’s halving ] until we achieve the final high point in the ball markets, which is 329 days by 2021.
“If we pay close attention to this old region of all-time highest prices and break through it into the parabolic phase, we should expect that a bullish market will peak in the near future between 250-329 days from now.”
Bitcoin currently trades at $63,650.
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This article Bitcoin is in the final few days before transitioning into a parabolic phase, says Trader — Here’s his outlook appeared first on The ICD.
