According to Rekt Capital’s study, there have been 20% retracements in 2020 and roughly 30% in 2016 for Bitcoin. The market is currently rife with rumors that a much larger decline, maybe of up to 40%, may be approaching. Rekt Capital suggests that this could indicate a critical period of reaccumulation for Bitcoin, akin to trends seen prior to past halving events.
Investors and fans alike are once again interested in Bitcoin. Rekt Capital, a renowned cryptocurrencycurrency analyst, has conducted an analysis of the present market dynamics and has drawn comparisons with past cycles to suggest that there may be a large pullback in the price of Bitcoin.
The cryptocurrency community is excitedly anticipating Bitcoin’s impending halving, and Rekt Capital’s observations have generated intense discussion. With an eye toward taking advantage of what may be the final big buying opportunity prior to the next big surge, investors are keeping a close eye on the market.
Read also: Bitcoin Halving Expected to Spark “buy the rumor, sell the news” event for Extended Period
