Benzinga – As Bitcoin (CRYPTO: BTC) faces some uncertainty, the crypto world is buzzing with talk of the “Memecoin Supercycle.”
Bitcoin Faces ‘Second Danger Zone’
Bitcoin is facing a challenging moment, with a possible downturn on the horizon, as warned by a pseudonym crypto analyst, RektCapital. Comparing the current correction to Bitcoin’s price action around the 2016 halving, the analyst foresees similarities in the potential for two corrective waves.
RektCapital suggests that Bitcoin might experience another pullback in the next couple of weeks, possibly remaining in a “post-halving danger zone” until the following month.
Emphasizing Bitcoin’s critical support level of around $60,000, the analyst indicates its importance in potentially enduring the forthcoming weeks’ volatility.
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