Halving Hype: Bitcoin Gearing Up For A Parabolic Ride, Analyst Says

Christian Encila

1 year ago

4 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin (BTC) enthusiasts and crypto analysts are once again buzzing with excitement as they anticipate a potentially explosive price surge following the cryptocurrency’s scheduled 2024 halving event.

Prominent crypto analyst Rekt Capital recently took to the social media platform X to share insights into Bitcoin’s future price trajectory. According to Rekt Capital, Bitcoin could embark on another parabolic rally, surging above $80,000 in the months that follow its next halving.

Understanding The Bitcoin Halving Event

For those new to the crypto space, the term “halving” refers to a fundamental aspect of Bitcoin’s protocol. Approximately every four years, the rate at which new Bitcoins are created is cut in half, effectively reducing the supply entering the market. This scarcity mechanism is often cited as a key driver of Bitcoin’s price appreciation. The upcoming halving is scheduled for April next year.

#BTC

Hang in there and make the most of any deeper downside in this Pre-Halving period

You won’t want to miss out on the Post-Halving parabola$BTC #Crypto #Bitcoin pic.twitter.com/jH8HYGZ0cE

— Rekt Capital (@rektcapital) September 16, 2023

While Rekt Capital remains optimistic about Bitcoin’s long-term prospects, he acknowledges the possibility of a temporary downtrend before the halving event:

“Hang in there and make the most of any deeper downside in this pre-halving period. You won’t want to miss out on the post-halving parabola.”

He advises investors to stay patient during this pre-halving period, emphasizing the potential for significant gains once the halving takes place.

Echoes Of 2019 Bear Market Cycle

Rekt Capital draws parallels between Bitcoin’s current market dynamics and the 2019 bear market cycle. In 2019, Bitcoin traded within a triangle pattern before breaking out and commencing a remarkable bull market. This historical precedent fuels optimism that a similar pattern could unfold in the lead-up to the 2024 halving.

BTC market cap currently at $528 billion. Chart: TradingView.com

Meanwhile, another respected cryptocurrency analyst known as PlanB, or 100trillionUSD, reiterated an earlier prediction. PlanB suggests that Bitcoin’s halving event could catalyze a move above $32,000, with the 2025 bull market potentially culminating at $100,000 and beyond.

This prediction, shared in a recent X post, gains credibility from the fact that Bitcoin has already climbed from $18,000 to $27,000 since PlanB’s initial forecast earlier this year.

To be clear, I still stand by my January 12 prediction:

✅ Nov 2022 $15.5k was the bottom
✅ Bitcoin will rise towards 2024 halving. BTC already rose from $18k to $27k since Jan 12.
❓ 2024 halving will be >$32k ($32k-$66k IMO)
❓ 2025 bull market >$100k ($100k-$1m IMO) https://t.co/V74Y8VYCVo pic.twitter.com/VBjsHObMMl

— PlanB (@100trillionUSD) September 18, 2023

Bitcoin is once again at the center of speculative fervor as crypto analysts weigh in on its future price trajectory. With the 2024 halving on the horizon, experts like Rekt Capital and PlanB anticipate significant price movements, setting the stage for potentially historic gains in the cryptocurrency market.

As of now, Bitcoin’s price hovers around $26,767, with a 24-hour gain of 0.3% and a seven-day rally of 6.5%. The crypto community eagerly awaits the next chapter in Bitcoin’s remarkable journey

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Business Insider

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.