A crypto analyst and trader believes that Bitcoin (BTC) is on the cusp of entering the most explosive phase of its market cycle.
The analyst pseudonymously known as Rekt Capital tells his 81,900 YouTube subscribers that Bitcoin may be just weeks away from going on a massive months-long rally based on historic precedence.
“If history repeats, then 160 days after the [April 15th] halving is where we’ll see a breakout in Bitcoin’s price action from this re-accumulation range. So there’s not much left to still wait for in terms of breaking out into a parabolic rally.”
The analyst says that based on prior cycles, the parabolic rally could begin before the year’s end and continue into 2025.
“You can see that maybe we’ll still consolidate a little bit more, but near the end of the year is where we’ll start to pick up because going into 2025 is where we should see a lot of that upside also take place. So the end of this year, going into 2025 are going to be really exciting, because we’re going to be transitioning away from that first macro uptrend burst, that first bull phase, into the second ball phase where we enter the parabolic phase of the cycle. We’re really not that far away from this parabolic beginning and it begins with a breakout from this re-accumulation range and we don’t have to wait too long for that breakout to occur.”
Bitcoin is trading for $58,503 at time of writing, down 2.5% in the last 24 hours.
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The post Bitcoin Is Approaching ‘Parabolic Phase’ of Market Cycle, According to Crypto Analyst – Here’s His Timeline appeared first on The Daily Hodl.
