Crypto analyst says Bitcoin is about to make history. Here's why.
A pseudonymous crypto analyst predicts that Bitcoin BTC/USD will make history with a key rally.
In a tweet on Friday, Rekt Capital told followers that the cryptocurrency would enter downward macro resistance in April, a trend that has kept Bitcoin lower since its inception. reached its all-time high in 2022.
Bitcoin broke precisely 396 days before the halving, scheduled for April 2024. The halving takes place when the amount of newly minted BTC is halved.
Rekt Capital also interestingly noted that in 2019 Bitcoin broke exactly 396 days before the 2020 halving. He added that the cryptocurrency "tends to break the macro's downtrend about a year before its next halving."
In another tweet, Rekt Capital said another factor favoring Bitcoin is "quarterly engulfing candle".
"BTC is about to confirm its first quarterly bullish engulfing candle since the start of 2020. Historically, quarterly bullish engulfing candles have preceded several bullish quarters," he said. writing.
Meanwhile, crypto analyst and economist Alex Krüger pointed out that Bitcoin now plays a different role in investors' portfolios than in the past. In a tweet, he wrote that Bitcoin won't make anyone rich like it was 10 years ago, explaining that cryptocurrency is now an efficient way to preserve wealth and store value.
"People should no longer buy Bitcoin to get rich. That boat has sailed. Bitcoin is now for wealth preservation, attractive risk-adjusted returns, trading and cover against the fiat system,” he tweeted.
At the time of writing, Bitcoin was trading at $28,300, about 1% higher in the past seven days.
Read Next: Bitcoin Exceeds This Key Level; Mask Network, Frax share among top winners
Photo: Shutterstock
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
A pseudonymous crypto analyst predicts that Bitcoin BTC/USD will make history with a key rally.
In a tweet on Friday, Rekt Capital told followers that the cryptocurrency would enter downward macro resistance in April, a trend that has kept Bitcoin lower since its inception. reached its all-time high in 2022.
Bitcoin broke precisely 396 days before the halving, scheduled for April 2024. The halving takes place when the amount of newly minted BTC is halved.
Rekt Capital also interestingly noted that in 2019 Bitcoin broke exactly 396 days before the 2020 halving. He added that the cryptocurrency "tends to break the macro's downtrend about a year before its next halving."
In another tweet, Rekt Capital said another factor favoring Bitcoin is "quarterly engulfing candle".
"BTC is about to confirm its first quarterly bullish engulfing candle since the start of 2020. Historically, quarterly bullish engulfing candles have preceded several bullish quarters," he said. writing.
Meanwhile, crypto analyst and economist Alex Krüger pointed out that Bitcoin now plays a different role in investors' portfolios than in the past. In a tweet, he wrote that Bitcoin won't make anyone rich like it was 10 years ago, explaining that cryptocurrency is now an efficient way to preserve wealth and store value.
"People should no longer buy Bitcoin to get rich. That boat has sailed. Bitcoin is now for wealth preservation, attractive risk-adjusted returns, trading and cover against the fiat system,” he tweeted.
At the time of writing, Bitcoin was trading at $28,300, about 1% higher in the past seven days.
Read Next: Bitcoin Exceeds This Key Level; Mask Network, Frax share among top winners
Photo: Shutterstock
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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