Crypto Analyst Predicts Bitcoin Rally Ahead of Halving, But Warns of Potential Dip

02/02 08:06

Wechat scan to share

Crypto analyst Rekt Capital predicts that Bitcoin will follow a 2016 pattern and rally ahead of the mid-April BTC halving, but warns of a potential nosedive in the near term due to the crypto king remaining in a re-accumulation range. The trader suggests that Bitcoin may rally to around $50,000 heading into the halving, but could dip and revisit the $38,000 level in the next two weeks. There remains a small chance that the re-accumulation range will break down, sending Bitcoin below $38,000, but the trader believes that as long as the range holds, Bitcoin will only experience a 21% retrace from the highs. The worst case scenario for a Bitcoin dip this cycle would be around $32,000.

Original Link

Comments

All Comments

Recommended for you

04/21 14:10

BitradeX Partners with NVIDIA for Deep Collaboration, Leveraging GPU Power to Lead the AI Trading Revolution

BitradeX has announced its partnership with NVIDIA through the NVIDIA Developer Program, entering into a deep collaboration to optimize its core AI trading model, ARK Trading Model, with NVIDIA’s A100 and H100 GPU clusters. This collaboration has significantly enhanced ARK's decision-making speed and precision, reducing decision latency from 2.1 milliseconds to just 0.07 milliseconds. This deep partnership marks a technological breakthrough for BitradeX, propelling the industry into the "AI Quantification 2.0 Era" and offering users a more efficient trading experience in the global financial market.
Omkar Godbole · 04/21 08:06

Bitcoin Pushes Past $87K, Dollar Crashes as Trump Looks to Terminate Fed’s Powell

Perceived threat to Fed's independence saw traders sell dollar, pushing BTC and gold higher.
Nikhilesh De · 04/21 08:01

Stablecoin Giant Circle Is Launching a New Payments and Remittance Network

Circle is unveiling a new payments and cross border remittance product on Tuesday, from the firm’s One World Trade Center headquarters, according to an invite to the launch event.
Vitalik Buterin · 04/21 03:46

Long-term L1 execution layer proposal: replace the EVM with RISC-V

The idea: replace the EVM with RISC-V as the virtual machine language that smart contracts are written in.
CointimeSG · 04/21 02:39

India’s Top Court Shuts Door on WazirX Victims Seeking Justice, Cites Lack of Crypto Rules

Petition by WazirX victims was dismissed by India’s Supreme Court due to a lack of regulatory framework.Judges advised petitioners to approach relevant regulatory bodies instead.
Sarah Tavel · 04/19 00:47

Canary Capital seeks SEC approval for staked TRX ETF

Canary Capital filed a registration statement with the SEC on Friday for the Canary Staked TRX ETF.
VINCERO · 04/19 00:43

Coinbase Clashes With Oregon in Surprise Crypto Lawsuit After SEC Exit

Coinbase is going on the offensive as Oregon revives a discredited crypto crackdown, slamming the state’s lawsuit as politically driven and dead-on-arrival in court.
Ian Allison · 04/18 09:58

Stellar Sees $3B of Real World Assets Coming On-Chain in 2025

The Stellar blockchain has made new partnerships with Paxos, Ondo, Etherfuse and SG Forge.
Stephen Wolfram · 04/18 09:56

Bitcoin Rally Short-Circuited as Fed Chair Powell Raises Stagflation Fear

"We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension," said Powell of the effect of the Trump tariffs.
Coindesk · 04/18 09:54

Coinbase Embroiled in Alleged Frontrunning Controversy With ‘Base Is for Everyone’ Token

At least three wallets bought tokens before Base announced the launch on X.