Benzinga – Bitcoin (CRYPTO: BTC) is currently in a precarious position, with a potential downside looming, according to a prominent crypto analyst.
What Happened: The analyst, known by the pseudonym RektCapital, has cautioned that Bitcoin may be heading for another downturn within the next two weeks.
Rekt Capital, who has a following of over 74,000 subscribers on YouTube, has compared the current Bitcoin correction to its 2016 halving price action. He pointed out that in 2016, Bitcoin experienced two corrective waves, one before the halving and another after it.
“If we think about the pre-halving danger zone [now], we need to also potentially factor in or at least consider a potential danger zone after the halving – so, a second danger zone.”
The analyst believes that Bitcoin could potentially witness another pullback in the coming weeks, based on this historical precedent.
Rekt Capital suggested that…
Read More
