The post Rekt Capital Analyzes BTC Breakout: Parabolic Uptrend in Sight appeared on BitcoinEthereumNews.com.

Bitcoin’s breakout from the re-accumulation phase signals the start of its parabolic growth cycle, historically lasting a year. Institutional interest in Bitcoin surges as exchange balances shrink, indicating strong investor confidence and reduced selling pressure. Analysts predict Bitcoin could peak at $84K by December 2024, driven by historical post-halving trends and robust market dynamics. According to an analysis by Rekt Capital, Bitcoin (BTC) has entered the final phase of its halving cycle. Bitcoin recently broke out of its re-accumulation range, signaling an imminent transition into a parabolic uptrend. Historically, this phase has driven Bitcoin’s most significant price gains, typically lasting over a year. #BTC 1 Final Phase of The Bitcoin Halving Cycle Bitcoin has finally broken out from its ReAccumulation Range (red) As a result, Bitcoin is now on the cusp of transitioning into the Parabolic Phase of the cycle (green) It is during this phase that Bitcoin experiences… https://t.co/whR8vhuicz pic.twitter.com/j16FWXCq0f — Rekt Capital (@rektcapital) November 9, 2024 Bitcoin Halving and Market Phases Rekt Capital outlines three distinct phases of the Bitcoin halving cycle. The first is the pre-halving retrace, which has historically seen Bitcoin pull back by significant margins. In 2024, Bitcoin experienced two retraces of 18% each before halving. These retraces set the stage for the second phase, known as re-accumulation. Related: Bitcoin (BTC) Price Prediction 2024-2030: Will BTC Price Hit $100,000 Soon? The re-accumulation phase consolidates Bitcoin’s price within a specific range, allowing the market to stabilize. This phase is crucial as it forms the foundation for the parabolic uptrend. Investors often become impatient during this period, as price movements remain subdued. Transition to Parabolic Growth Bitcoin’s breakout from the re-accumulation range signals the onset of the parabolic phase. This phase has historically seen accelerated growth, pushing Bitcoin to new all-time highs. According to Rekt Capital, previous…

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Filed under: News - @ November 10, 2024 4:10 am