The recent Bitcoin halving on April 19 has yet to trigger the anticipated price surge from the resulting supply reduction. Despite Bitcoin’s price stabilizing below $70,000, prominent crypto analyst Rekt Capital believes that new all-time highs are imminent.
Citing Bitcoin’s historical patterns of strong performance after halving events, Rekt Capital suggests that the cryptocurrency could potentially reach $100,000, emphasizing its resilience and growth potential.
Analyst Predicts Imminent Bitcoin Surge to New ATH
In a recent commentary, crypto analyst Rekt Capital examined whether Bitcoin investors should expect a new all-time high or if the effects of the recent halving are already factored into the current price.
Rekt Capital pointed out that Bitcoin’s quadrennial halving events have historically sparked significant bull runs, with the cryptocurrency typically experiencing substantial price surges and peaks in the ensuing months. According to the analyst, the current market cycle suggests that another all-time high is likely imminent, despite recent price consolidations.
Analyst Anticipates Bitcoin Rally After Reaccumulation Phase
The crypto analyst discussed the potential trajectory for Bitcoin following its recent halving. He noted that expectations of reduced supply and increasing demand have historically led to exponential price increases and bullish sentiment.
However, Rekt Capital tempered expectations of an immediate surge to extreme highs like $400,000, citing that such a jump is not aligned with Bitcoin’s typical logarithmic growth patterns.
Bitcoin generally undergoes a consolidation period of over 150 days before breaking out in a significant rally that lasts several months. According to popular traders, the Bitcoin market is currently in a reaccumulation phase.
Rekt Capital elaborated that the current reaccumulation phase is beneficial, suggesting that the longer this phase lasts, the stronger the foundation for the expected uptrend. He emphasized the importance of this period, indicating that a prolonged consolidation would likely lead to a more robust and sustained upward movement in the future.
Bitcoin Exits Post-Halving Danger Zone, Eyes $100,000 Milestone
Rekt Capital noted that Bitcoin has moved beyond the post-halving danger zone—a period typically marked by downside volatility in previous cycles. However, he does not anticipate Bitcoin reaching new historical highs until later this year.
BTC’s price trajectory appears poised for the coveted $100,000 milestone, especially after it surpassed its 2021 all-time high prior to the halving.
Furthermore, increasing interest from traditional finance sectors could help Bitcoin soon reclaim its March record high of $73,737. This growing demand indicates a robust confidence in Bitcoin’s market potential, suggesting a bullish outlook for the near future.
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