Renowned crypto analyst Rekt Capital is predicting an imminent surge in Bitcoin (
BTC
) based on historical patterns, suggesting that the leading cryptocurrency could be on the brink of a significant rally.
In a recent post to his 475,500 followers on X, Rekt Capital highlighted the potential for Bitcoin to enter a phase of the market cycle similar to the explosive gains seen in both 2020 and 2021.
Describing the current situation, Rekt Capital stated, “Bitcoin is on the verge of a groundbreaking breakout.” According to the analyst, if Bitcoin confirms a breakout into the historic “parabolic phase” earlier than in previous cycles, it could set the stage for a record-breaking post-halving re-accumulation breakout.
Furthermore, Rekt Capital believes that a parabolic Bitcoin could have a ripple effect on altcoins, driving up their prices due to increased market liquidity. He anticipates that a BTC breakout would inject vital capital into the broader crypto market, paving the way for a potential altcoin hype cycle in the second quarter.
At the time of writing, Bitcoin is trading at $69,208, experiencing a slight decline of over 1% in the past 24 hours.
In addition to his analysis on Bitcoin, Rekt Capital also shared insights on dogwifhat (
WIF
), cautioning that a failure to maintain a crucial trendline as support could spell trouble for the meme coin’s bullish trend. He emphasized the significance of this trendline, which has been instrumental in supporting WIF’s price since early March.
As of now, WIF is trading at $2.93, marking a 9.27% decrease in the last 24 hours.
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