A renowned crypto analyst Rekt Capital has offered a comprehensive analysis of Bitcoin’s journey through the phases leading up to the much-anticipated Halving in April 2024. He suggests that the next two weeks could be the last chance for investors to buy Bitcoin at “bargain-buying” prices.
Last Buying Opportunity
In a recent tweet, Rekt Capital sheds light on the current scenario as investors navigate through the Pre-Halving period with approximately 77 days remaining until the Bitcoin Halving.
Historical patterns indicate that deeper retracements during this phase often pave the way for substantial returns post-halving. While the recent -18% retrace in January raises intriguing questions about its alignment with established historical patterns.
As time progresses, Rekt Capital observes a rapidly ending 14-day period, suggesting the possibility of another price drop for Bitcoin. Meanwhile, analyst hints that this could be the last opportunity for investors to purchase Bitcoin at “bargain-buying” prices.
Pre-Halving Rally
With the Pre-Halving period winding down, Rekt Capital further provides insights into the upcoming transition into the Pre-Halving rally phase. Around 60 days before the Halving, depicted as a light blue phase, investors eagerly adopted the “Buy the Hype, Sell the News” strategy.
During this period, the entry of short-term traders and speculators adds fuel to the hype, creating an atmosphere charged with anticipation.
Following this excitement, Rekt Capital delves into the subsequent Pre-Halving retrace, a phase marked by a dark blue circle occurring a couple of weeks before the Halving event. Drawing on historical data, the analyst underlines the significant retracements observed in 2016 (-38%) and 2020 (-20%).
At this point investors often find themselves in contemplation, questioning the expected bullish impact of the Halving on Bitcoin’s price.
Re-Accumulation Phase
Following the Pre-Halving retrace, Rekt Capital delves into the multi-month re-accumulation stage (red), lasting up to 150 days (5 months). The analyst observes that many investors may face challenges during this period due to boredom, impatience, and disappointment with the immediate post-halving results.
Once Bitcoin breaks out from the re-accumulation phase and enters the green zone denoting a parabolic uptrend, it is during this phase that Bitcoin experiences accelerated growth on its way to new All-Time Highs
