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Bitcoin and Altcoins Enter The Re-Accumulation Phase Before Next Bull Run

Analyst Rekt Capital stated that this could be last chance of Bitcoin accumulation before the BTC price resume a parabolic bull run.
By Bhushan Akolkar
April 20, 2024
Bitcoin Traders Prioritize Broader Risks Over 'Halving'

Highlights

  • Bitcoin presents the final opportunity of accumulation before a parabolic rally.
  • Analysts give an upper bound for Bitcoin price rally to $450,000 in the next bull run.
  • Altcoins can form a bottom in early summer before the next leg of run to the north.

On Friday, April 19, the much-awaited Bitcoin Halving 4.0 triggered at the block height of 840,000 while the Bitcoin price remained steady at around $64,000 levels. Everyone has been very optimistic that this Bitcoin halving will create a supply shock leading to a strong rally in the BTC price.

Bitcoin Enters A Strong Re-Accumulation Phase

Rekt Capital announces the conclusion of the Pre-Halving period and the initiation of Post-Halving Re-Accumulation starting today. This phase marks the final opportunity for bargain-buying before Bitcoin transitions into the Parabolic phase of the cycle.

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Historically, the Bitcoin Pre-Halving Retrace has been a gradual setup for the next phase in the Bitcoin Halving Cycle.

During the Post-Halving Re-Accumulation Range (marked in red), the bottom of the Pre-Halving Retrace serves as the base of the Re-Accumulation (i.e., Range Low). With the establishment of this Range Low, a period of consolidation begins thus preparing for an eventual breakout into Parabolic Upside (highlighted in green).

Courtesy: Rekt Capital

Market analysts have already started predicting the next price targets for Bitcoin based on the post-halving behavior from the previous events.

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In the latest analysis of Bitcoin’s potential price range within the 4th halving cycle, experts have also projected a considerable spectrum:

  • Upper Bound: Approximately $4,500,000.
  • Lower Bound: Around $140,000.

The Altcoin Roadmap Going ahead

After a strong runup in the pre-halving period and the entire Q1, altcoins have entered a strong retracement in recent weeks. This comes along with the Bitcoin price volatility witnessed in recent weeks.

Rekt Capital notes that altcoins are aligning with the projected trajectory. As observed, altcoins hit their bottom in early February, indicating a significant milestone in their market movement. Additionally, there was a noticeable sell-off among altcoins coinciding with the Bitcoin halving event, further reflecting their correlation with BTC’s market dynamics.

Looking ahead, Rekt Capital anticipates that altcoins will reach their bottom once again in the early summer, suggesting a continuation of their cyclical patterns within the broader cryptocurrency market.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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