Cryptocurrency analyst Rekt Capital It was recently suggested that the worst may be over for Bitcoin. If so, the flagship cryptocurrency could be poised for a move to the upside, rising to AS Up to $100,000which is what some other cryptocurrency analysts expected.
Bitcoin is out of the “danger zone”
Rekt Capital is mentioned in an X (formerly Twitter) mail The “danger zone” after the Bitcoin halving is officially over. He added that Bitcoin is “celebrating a good rebound from… Reaccumulation range Low support.” The cryptocurrency analyst had previously explained that the danger zone was the negative wick that Bitcoin experienced 21 days after it occurred. Half In 2016.
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Rekt Capital also revealed at the time that Bitcoin repeated its 2016 date “perfectly,” with the flagship cryptocurrency falling below the bottom of its current reaccumulation range. Meanwhile, based on the opinions of cryptocurrency analysts Previous analysisBitcoin is now heading into the reaccumulation phase, which occurs after the halving.
Rekt Capital claimed that this period usually lasts up to five months but added that it may be shorter this time. The cryptocurrency analyst predicts that BTC may maintain a “regular sideways range and may not last for long before additional uptrend continues.” React Capital too Proposal $60,600 is likely the basis of the reaccumulation range.
Later Share X, Rekt Capital hinted that things are likely to get better from now on for major cryptocurrencies. “Bitcoin is showing early signs of slowing sell-side momentum, and is slowly developing in a reversing direction,” he said. Support $60,000“The $60,000 needs to continue to hold because it has held so far for this curve to progress and eventually rise,” he added.
React Capital male In another X post, this move to the upside may take some time but it will happen eventually. According to him, this month and next may be “unremarkable” because Bitcoin runs out of “unremarkable months” before the “parabolic phase of the cycle” begins.
Arthur Hayes, co-founder and former CEO of cryptocurrency exchange BitMEX, also echoed similar sentiments when advertiser That Bitcoin has found its local bottom and will range between $60,000 and $70,000 until August.
$100,000 could be the next stop for BTC after this point
Based on price predictions provided by several cryptocurrency analysts, Bitcoin It is likely to rise to $100,000 Once this period of consolidation is over. One such analyst is the cryptocurrency analyst with the pseudonym PlanB, who… claimed That BTC will reach this price level this year is “inevitable.” So did Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital And he expected Earlier in the year, Bitcoin would reach $100,000 after the halving.
Meanwhile, cryptocurrency analyst Ali Martinez Proposal That Bitcoin will at least get close to that price level even if it doesn't eventually reach it. He stated that a rise above $66,250 would give the major cryptocurrency enough strength to move towards $69,150. Martinez claimed that BTC could advance to a level New all-time high (ATH) From $92,190 if it eventually breaks this resistance level.
Featured image from Finance Monthly, chart from Tradingview.com