crypto Analyst Rekt Capital recently suggested that the worst might be over for bitcoin. If so, the flagship cryptocurrency may be primed for an upward move, reaching up to $100,000which some other crypto analysts have predicted would be the case.
bitcoin is out of the “danger zone”
Rekt Capital mentioned in an x (formerly twitter) x.com/rektcapital/status/1789939547700097500″ rel=”nofollow” target=”_blank”>mail that the post-bitcoin Halving “Danger Zone” has officially ended. He added that bitcoin is “celebrating with a nice bounce from the Reaccumulation range Little support.” The crypto analyst had previously explained that the danger zone was the downward fuse that bitcoin experienced 21 days after the reduce by half in 2016.
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Rekt Capital also revealed back then that bitcoin had repeated the 2016 story “perfectly,” with the flagship cryptocurrency falling below the bottom of its current reaccumulation range. Meanwhile, according to crypto analyst bitcoin/bitcoin-troubles-far-from-over/” rel=”nofollow noopener” target=”_blank”>Previous analysisbitcoin is now heading into the reaccumulation phase, which occurs after the halving.
Rekt Capital said this period usually lasts up to five months, but added that this time it could be shorter. The crypto analyst predicts that btc may maintain a “regular sideways range and may not last long before the further uptrend continues.” Rekt Capital too x.com/rektcapital/status/1789729850875420886″ rel=”nofollow” target=”_blank”>He suggested that $60,600 would likely be the base of the reaccumulation range.
In a later x.com/rektcapital/status/1789936849282117659″ rel=”nofollow” target=”_blank”>x publication, Rekt Capital hinted that things would likely improve from here on out for the flagship cryptocurrency. He said: “bitcoin is showing initial signs of slowing in its selling momentum, slowly developing a curvature against the bitcoin/59800-important-level-bitcoin/#:~:text=Martinez%20mentioned%20in%20an%20X,drop%20to%20that%20price%20level.” rel=”nofollow noopener” target=”_blank”>$60,000 support.” “The $60,000 must continue to hold as it has so far for this loop to progress and eventually lift,” she added.
Capital Rekt x.com/rektcapital/status/1789933260996264253″ rel=”nofollow” target=”_blank”>noted in another x post that this bullish move might take time but it will eventually happen. According to him, this month and next may be “common” because bitcoin is running out of “uneventful months” before the “parabolic phase of the cycle” begins.
Arthur Hayes, co-founder and former CEO of crypto exchange BitMEX, also echoed a similar sentiment when bitcoin/crypto-expert-arthur-hayes-says-bitcoin-has-found-its-local-bottom-but-can-it-hold-this-level/” rel=”nofollow noopener” target=”_blank”>fixed that bitcoin had found its local bottom and would range between $60,000 and $70,000 until August.
$100,000 may be btc's next stop after this phase
According to price predictions made by several crypto analysts, bitcoin will probably go up to $100,000 once this consolidation period has ended. One of these analysts is the pseudonymous cryptoanalyst PlanB, who bitcoin/bitcoin-100000-in-2024/#:~:text=bitcoin%20To%20%24100%2C000%20Is%20%E2%80%9CInevitable%E2%80%9D&text=He%20noted%20that%20the%20Bitcoin,average%20price%20level%20for%20Bitcoin.&text=However%2C%20he%20added%20that%20this,year%20but%20sometime%20in%202025.” rel=”nofollow noopener” target=”_blank”>reclaimed btc reaching this price level this year is “inevitable.” Tom Dunleavy, partner and chief investment officer (CIO) at MV Capital, had also bitcoin/bitcoin-100000-cardano-dead/#:~:text=Why%20Cardano%20Is%20Dead,non%2Dexistent%E2%80%9D%20on%20it.” rel=”nofollow noopener” target=”_blank”>foretold At the beginning of the year, bitcoin would reach $100,000 after the halving.
Meanwhile, cryptanalyst Ali Martinez bitcoin/59800-important-level-bitcoin/#:~:text=Martinez%20mentioned%20in%20an%20X,drop%20to%20that%20price%20level.” rel=”nofollow noopener” target=”_blank”>He suggested that bitcoin will at least approach this price level even if it does not ultimately reach it. He claimed that a rise above $66,250 would give the flagship cryptocurrency enough strength to advance towards $69,150. Martínez stated that btc could advance at a new all-time high (ATH) of $92,190 if it finally breaks that resistance level.
Featured image from Finance Monthly, chart from Tradingview.com
