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Rekt Capital has made headlines recently for their groundbreaking analysis revealing Bitcoin’s price trend is paralleling historical price action seen during a bull cycle eight years prior.
Rekt Capital highlighted how Bitcoin’s price trend from eight years ago seems to be repeating itself today – which is impressive considering its magnitude of growth during 2016 Bull Cycle when BTC increased by nearly 300% upon conclusion of Halving Event. This may portend significant future gains.
Rekt Capital brought attention to their previous post regarding Bitcoin’s post-Halving movement, coining it the Post-Halving Danger Zone. According to this analyst, digital asset is currently trapped within this period.
Rekt Capital on X
He further observed that Bitcoin had returned to a bear cycle trend since 2016, as seen through its divergence below the Re-Accumulation Range Low and moving below it for roughly 17%, although that trend had abated this time round and diverged only by about 6% in 2024.
Rekt Capital previously confirmed in 2016, just 21 days following Bitcoin’s Halving event, that there was an extended 11% decline before beginning to move toward growth again.
So if there is further downside volatility around Re-Accumulation Range Low, 2016 data hints at BTC possibly making a turn towards its upside within 10 days given its post time.
Rekt Capital noted that even though the Post-Halving “Danger Zone” will end within four days, 2016 data demonstrates some negative volatility at $60,600 Range Low that might pose challenges over this time frame.
Pre-Halving Danger Zone for BTC
Notably, Rekt Capital identified an annual pre-Halving Danger Zone before each Halving event that has historically seen pre-Halving retraces start retracements at 14 to 28 days before any Halving event; so far this cycle is no different.
Rekt Capital believes a potential danger zone may arise after Halving of Bitcoin, with Bitcoin experiencing its first pre-Halving retrace of -18% approximately 30 days ahead of this event, similar to 2016, when 28 days before was witnessed as well.
However, Bitcoin prices appear to have reached their low points since reaching an all-time high last September – prompting expert predictions of their likely reaching bottom levels soon after this recent pullback from these levels.
At the time of writing, Bitcoin’s price had experienced a marked improvement by rising by 0.43% to $64,126 over the course of 24 hours, as both its market capitalisation and trading volume saw gains of both 0.50% and 24.43%, respectively.
BTC trading at $64,289 on 1D chart | Source: BTCUSDT on Tradingview.com (iStock photo; chart from Tradingview).
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