Here’s When Bitcoin Could Leave the “Boring Zone” and Head for New Highs
A well-known crypto analyst believes that Bitcoin (BTC) is on the verge of entering the parabolic phase of its market cycle.
“Rekt Capital said that based on historical data, Bitcoin could return to bullish price action in the next few weeks.
He explained that Bitcoin is currently in what he calls the “boring zone,” which he defines as the re-accumulation phase after the halving.
Historically, this phase involves trading in a range for an extended period of time. In previous cycles, such as 2016 and 2020, this phase has lasted approximately 150-160 days.
If this pattern persists, the current phase could end by late September or early October, setting the stage for Bitcoin to enter the parabolic phase, which he calls the “banana zone.”
This range-bound price action, according to the analyst, is essential as it allows Bitcoin to build a solid base before shooting to new all-time highs. According to him, re-accumulation after the halving usually precedes parabolic price action, which helps Bitcoin explore new highs during the bull market phase.
Despite Bitcoin’s recent decline to below $60,000, Rekt Capital’s analysis suggests that the current consolidation phase could be a harbinger of significant upside movement in the cryptocurrency’s price, potentially leading to new all-time highs as the market cycle progresses.
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