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Famous analyst: Bitcoin (BTC) pre-halving rally has begun!
Crypto analyst Rekt Capital stated that the expected rally ahead of the Bitcoin (BTC) halving has already begun.
There is a spring mood in the cryptocurrency market. On Jan. 11, the consodilation formed by the start of trading on spot Bitcoin ETFs is about to come to an end. As Grayscale's selling pressure finally subsided, other ETF providers accumulated large amounts of BTC.
The cryptocurrency market, which has been on a downward trajectory since Jan. 11, signaled a recovery last week. BTC reached $48,000 and also boosted altcoins. Crypto analyst Rekt Capital, in his social media post evaluating the situation, stated that the expected rally before the Bitcoin halving has already begun. According to the analyst, the crypto market is experiencing a rally.
All eyes on the Bitcoin (BTC) halving!
The cryptocurrency market has set its sights on the Bitcoin halving after spot Bitcoin ETFs. The halving, which is expected to take place in about 65 days, has started to whet the appetite of investors. Many investors have started to think that the Bitcoin halving is the factor that will start the bull run.
Cryptocurrency analyst Rekt Capital stated that the process in which BTC was in a disadvantageous position was completed before the upcoming Bitcoin halving. The analyst stated that the pre-halving rally expected by the crypto industry has already begun.
Rekt Capital evaluated Bitcoin's progress in 5 stages with its post on February 5. The first stage was stated as the negative process before the halving. According to the analyst, this stage is over. The other 4 phases of the analyst are in the form of a pre-halving rally, a pre-halving pullback, consolidation, and a parabolic bullish trend, respectively.
Historical models used by Rekt Capital show that the expected rally before the Bitcoin halving usually starts two months before the halving. Pointing to the timeline, the analyst said that the rally could start next week.
The famous analyst also underlined the need to be careful as the timeline is happening earlier than expected.
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