{"id":606745,"date":"2024-05-06T19:00:03","date_gmt":"2024-05-06T19:00:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=606745"},"modified":"2024-06-11T06:58:16","modified_gmt":"2024-06-11T06:58:16","slug":"bitcoin-repeating-bull-cycle-trend-from-8-years-back-analyst","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-repeating-bull-cycle-trend-from-8-years-back-analyst\/","title":{"rendered":"Bitcoin Repeating Bull Cycle Trend From 8 Years Back: Analyst"},"content":{"rendered":"

Well-known cryptocurrency analyst and trader Rekt Capital has revealed an intriguing finding regarding Bitcoin’s price trend in a recent analysis. His ground-breaking prognosis reveals that the crypto asset is mirroring historical price action that took place during a bull cycle eight<\/span>\u00a0years ago.<\/span><\/p>\n

Similar Historical Price Tendency In Bitcoin<\/span><\/h2>\n

Rekt Capital asserted that the way <\/span>Bitcoin<\/span><\/a> is reiterating a past price trend from a cycle 8 years ago is amazing. Given the magnitude of the 2016 bull cycle, BTC could be poised for significant growth in the upcoming months. During the 2016 bull cycle, BTC witnessed a notable growth of nearly 3,000%, following the conclusion of the Bitcoin Halving event<\/a>.\u00a0<\/span><\/p>\n

Related Reading: Here\u2019s When Bitcoin Could Peak In This Accelerated Bull Run: Analyst<\/a><\/div>\n

Moving on, Rekt Capital drew attention to his previous post regarding Bitcoin’s post-Halving movement, which he dubbed the Post-Halving Danger Zone. According to the analyst, the digital asset is currently caught up in this zone.<\/span><\/p>\n

\"Bitcoin\"
BTC mirroring 8-year old bull cycle trend | Source: Rekt Capital on X<\/a><\/figcaption><\/figure>\n

He further noted that Bitcoin has veered to the negative below the current Re-Accumulation Range Low, repeating the pattern that began in 2016. In 2016, the move below the re-accumulation range was about 17%. However, this divergence in 2024 is down by 6%.<\/span><\/p>\n

Rekt Capital previously affirms in 2016, about 21 days after the Halving, Bitcoin saw a lengthy -11% decline before transitioning toward the upside. <\/span><\/p>\n

Thus, if there should be downside volatility in this cycle around the Re-Accumulation Range Low, 2016 data indicates that <\/span>BTC<\/span><\/a> could turn to the upside in the next 10 days, considering the post time.<\/span><\/p>\n

Even though the Post-Halving “Danger Zone” ends in the upcoming days, particularly four days from now, Rekt Capital stated that 2016 data proves that there may be some negative volatility at the $60,600 Range Low in the interim.\u00a0<\/span><\/p>\n

Pre-Halving Danger Zone For BTC<\/span><\/h2>\n

Notably, the expert also identified a Danger Zone before the event, where previous Pre-Halving retraces have always started. According to Rekt Capital, pre-Halving retracements have historically been seen in Bitcoin between 14 and 28 days before the event, and this cycle hasn’t been any different thus far<\/span>.<\/span><\/p>\n

Related Reading: Bitcoin Loses Historical Level, Analyst Says \u201cReclaim And Bounce, Or Die\u201d<\/a><\/div>\n

He stated that Bitcoin saw its first pre-Halving retrace of -18% about 30 days before the Halving, while in 2016, the pre-Halving retrace started 28 days before the event, suggesting BTC could move in the same direction as that of 2016. Due to this, Rekt Capital is confident that a potential danger zone could occur after Halving.<\/span><\/p>\n

However, the retracement from the current all-time high has now proven to be deeper and longer than past retracements, spanning several weeks. Consequently, the expert predicted<\/a> a high probability that Bitcoin prices may have reached a bottom.<\/p>\n

At the time of writing, the price of Bitcoin was seeing a positive sentiment, rising by 0.43% to $64,126 in the past day. Both its market cap and trading volume have increased by 0.50% and 24.43%, respectively, in the last 24 hours.<\/span><\/p>\n

\"Bitcoin\"
BTC trading at $64,289 on the 1D chart | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Well-known cryptocurrency analyst and trader Rekt Capital has revealed an intriguing finding regarding Bitcoin’s price trend in a recent analysis. His ground-breaking prognosis reveals that the crypto asset is mirroring historical price action that took place during a bull cycle eight\u00a0years ago. Similar Historical Price Tendency In Bitcoin Rekt Capital asserted that the way Bitcoin is reiterating a past price trend from a cycle 8 years ago is amazing. Given the magnitude of the 2016 bull cycle, BTC could be poised for significant growth in the upcoming months. During the 2016 bull cycle, BTC witnessed a notable growth of nearly 3,000%, following the conclusion of the Bitcoin Halving event.\u00a0 Related Reading: Here\u2019s When Bitcoin Could Peak In This Accelerated Bull Run: Analyst Moving on, Rekt Capital drew attention to his previous post regarding Bitcoin’s post-Halving movement, which he dubbed the Post-Halving Danger Zone. According to the analyst, the digital asset is currently caught up in this zone. He further noted that Bitcoin has veered to the negative below the current Re-Accumulation Range Low, repeating the pattern that began in 2016. In 2016, the move below the re-accumulation range was about 17%. However, this divergence in 2024 is down by 6%. Rekt Capital previously affirms in 2016, about 21 days after the Halving, Bitcoin saw a lengthy -11% decline before transitioning toward the upside. Thus, if there should be downside volatility in this cycle around the Re-Accumulation Range Low, 2016 data indicates that BTC could turn to the upside in the next 10 days, considering the post time. Even though the Post-Halving “Danger Zone” ends in the upcoming days, particularly four days from now, Rekt Capital stated that 2016 data proves that there may be some negative volatility at the $60,600 Range Low in the interim.\u00a0 Pre-Halving Danger Zone For BTC Notably, the expert also identified a Danger Zone before the event, where previous Pre-Halving retraces have always started. According to Rekt Capital, pre-Halving retracements have historically been seen in Bitcoin between 14 and 28 days before the event, and this cycle hasn’t been any different thus far. Related Reading: Bitcoin Loses Historical Level, Analyst Says \u201cReclaim And Bounce, Or Die\u201d He stated that Bitcoin saw its first pre-Halving retrace of -18% about 30 days before the Halving, while in 2016, the pre-Halving retrace started 28 days before the event, suggesting BTC could move in the same direction as that of 2016. Due to this, Rekt Capital is confident that a potential danger zone could occur after Halving. However, the retracement from the current all-time high has now proven to be deeper and longer than past retracements, spanning several weeks. Consequently, the expert predicted a high probability that Bitcoin prices may have reached a bottom. At the time of writing, the price of Bitcoin was seeing a positive sentiment, rising by 0.43% to $64,126 in the past day. Both its market cap and trading volume have increased by 0.50% and 24.43%, respectively, in the last 24 hours. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":576170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,1119,1144,78790,92198,91814,69575],"class_list":["post-606745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-btc","tag-btcusd","tag-btcusdt","tag-post-halving-danger-zone","tag-pre-halving-retrace","tag-rekt-capital"],"acf":[],"yoast_head":"\nBitcoin Repeating Bull Cycle Trend From 8 Years Back: Analyst<\/title>\n<meta name=\"description\" content=\"Crypto analyst Rekt Capital has revealed that Bitcoin is mirroring historical price action that took place during a bull cycle 8 years ago.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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