A well-known crypto analyst thinks Bitcoin is on the verge of a massive price surge.
Bitcoin Ready to Break Out?
Rekt Capital, a popular analyst on YouTube, believes Bitcoin could soon break through its current trading range and reach new all-time highs. He says Bitcoin has been hovering around $60,000 for a few weeks, and once it breaks through a series of resistance levels, it could shoot up to the low $70,000s. This, according to Rekt Capital, would mark the start of a “parabolic phase” in the Bitcoin market cycle.
When Will the Party End?
Rekt Capital also predicts that Bitcoin’s peak for this cycle could happen around March 2025. He bases this on historical patterns and the Bitcoin halving event, which happened in April 2024. The halving event cuts the rewards miners receive in half, which can sometimes lead to price increases.
Get Ready for Volatility
Rekt Capital warns that the period between 250 and 330 days after Bitcoin breaks its all-time high could be a risky time to hold Bitcoin. He suggests that investors might want to consider selling during this period, as the market could become very volatile.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions. /p>
