After the event known as halving that took place on April 20, Bitcoin (BTC) experienced an increase of approximately 4% in its value. Experts, such as trader Rekt Capital, suggest that we are witnessing a crucial phase of “post-halving reaccumulation” for Bitcoin, which is expected to last a few weeks before beginning a period of significant parabolic appreciation near the $85.000 zone. according to the Chart. At the time of publication, the price of BTC was quoted at US$66.476,29, up 3% in the last 24 hours.
Rekt Capital highlights that Bitcoin remained stable in the lowest price range, called the “Low Reaccumulation Range”, during this period. “Bitcoin managed to protect the Low Range of the Reaccumulation Range. Because of Bitcoin’s strength in the ~$60.000 low range… It is becoming increasingly likely that Bitcoin has established its main range for the coming weeks,” the trader explained.
This cycle is interpreted by many analysts as a golden opportunity for investors to acquire Bitcoin at a relatively affordable price before a possible rapid and sharp climb. Parabolic appreciation, as described, refers to a burst of accelerated growth in the value of Bitcoin, culminating in new historical highs that will remain until the next cycle.
Bitcoin has managed to protect the Range Low of the Re-Accumulation Range
Because of Bitcoin's strength at the ~$60000 Range Low…
It's getting increasingly likely that Bitcoin has established its main range for the coming several weeks$ BTC # Bitcoin #BitcoinHalving pic.twitter.com/9pLnWkqZQr
- Rekt Capital (@rektcapital) April 22, 2024
The price dynamics between US$60.000 and US$70.000 were also commented on by the trader, who notes that the longer Bitcoin remains within this range, the more extensive the subsequent bullish cycle could be. A report from Crypto Briefing reinforces this analysis, indicating that an early acceleration before the halving could shorten this cycle, with peak expectations for Bitcoin between December 2023 and February 2025.
However, the trader also points out that, whenever Bitcoin undergoes corrections or remains in a state of accumulation, like now, the ongoing cycle prolongs in the same proportion. The forecast is that this cycle could last until September or October of next year.
