What Do The Three Phases Of The Bitcoin Halving Mean?
Portfolio Pulse from Khyathi Dalal
Cryptocurrency analyst Rekt Capital predicts a market shift as Bitcoin approaches its fourth halving event on April 19. The analyst outlines three phases: the final pre-halving retrace, re-accumulation, and a parabolic uptrend. Bitcoin has recently pulled back by 18%, similar to past pre-halving retraces. The halving event, which reduces the reward for mining new blocks, historically impacts Bitcoin's price significantly. Other traders also anticipate positive outcomes from the halving.
April 05, 2024 | 2:50 pm
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Bitcoin is approaching its fourth halving event, with historical trends suggesting significant price impacts. Analysts predict phases of retrace, re-accumulation, and a parabolic uptrend.
The analysis is based on historical trends observed in previous Bitcoin halving events, where significant price movements were noted. The outlined phases by Rekt Capital, combined with the historical impact of halving on Bitcoin's price, suggest a likely positive short-term impact on BTCUSD.
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