Bitrabo Editorial
The recent analysis by Rekt Capital indicates a positive shift for Bitcoin, suggesting a potential upward movement towards $100,000, a projection supported by other crypto analysts as well.
Bitcoin Moves Beyond the Risk Zone
Rekt Capital highlighted in a recent social media post that Bitcoin has officially left the Post-Halving “Danger Zone” and is now showing signs of strength by rebounding from the Re-Accumulation Range Low support level. This shift marks a significant milestone as Bitcoin moves out of the downward trend experienced after the 2016 halving event.
Furthermore, Rekt Capital anticipates that Bitcoin is entering the Re-Accumulation phase, a period following the halving event that typically lasts about five months. However, the analyst suggests that this phase might be shorter this time, leading to a potential swift progression towards an uptrend.
Additionally, the analyst predicts that $60,600 could serve as a key support level during this Re-Accumulation phase, indicating a potential base for Bitcoin prices to build upon.
Arthur Hayes, the co-founder of BitMEX, echoed similar sentiments by stating that Bitcoin has likely found its bottom and could consolidate between $60,000 and $70,000 until August.
Potential $100,000 Target After Consolidation
Several analysts, including PlanB and Tom Dunleavy, foresee Bitcoin’s price trajectory reaching $100,000 once the current consolidation phase concludes. PlanB emphasized the inevitability of Bitcoin hitting this milestone in the near future, while Dunleavy had earlier predicted this surge post-halving.
Notably, Ali Martinez also suggested that Bitcoin could closely approach the $100,000 mark, with potential resistance levels at $66,250, $69,150, and a new all-time high of $92,190 if these levels are breached.