Well-known crypto analyst Rekt Capital has shared his vision for the coming weeks for the Bitcoin price (BTC) via X. According to him, Bitcoin traders still have about two weeks to buy Bitcoin “at a discount.” He bases this on the developments of the Bitcoin price in previous cycles.
5 Phases of Bitcoin Halving
1. Period before the halving
There are still approximately 77 days left until the Bitcoin halving in April 2024
Historically, any deeper pullbacks that occur during this orange period result in a fantastic return of capital for investors in the various… pic.twitter.com/8JC8qX2IVm
— Rekt Capital (@rektcapital) January 29, 2024


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What can we expect in the coming weeks?
The Bitcoin halving, which occurs every four years, will take place in approximately 77 days. From this moment on, the rewards for miners will be halved. Historically, this event was a catalyst for the Bitcoin bull market.
But in the time before the halving it usually won’t be boring. Rekt Capital divides the months leading up to the halving into three important moments: the pre-halving period, the pre-halving rally, and the pre-halving correction.
The pre-halving rally usually occurs around 60 days before the halving. Based on historical data, this has not yet happened. The big question is whether we have already seen this decline.
In January, the BTC price already fell by 18 percent. Rekt Capital believes it is possible that this was the decline we usually see in the pre-halving rally. But he believes there are still two weeks left for BTC price to make another correction. If this happens, it would be a unique buying opportunity for traders.
“Any correction during this period is likely to be one of the last buying opportunities for ‘discounted’ BTC in the pre-halving period.”
The BTC rally
According to Rekt Capital. After this decline, which may already be behind us, we usually see a recovery. So we can expect this to happen around 60 days before the halving, a little over two weeks. This rally has everything to do with the building hype surrounding the halving.
Three weeks before the halving, a sell-the-news event took place in the past: the pre-halving correction. In 2020, this correction was 20 percent. Post-halving things look a little less exciting, historically speaking. Rekt Capital calls this a multi-month accumulation that can last up to five months.
“Many investors are giving up at this point due to boredom, impatience and disappointment with the lack of results from their BTC investments shortly after the halving.”
But this phase is ironically the dumbest time to get out. After the long-term accumulation phase, the parabolic Bitcoin rise begins.
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