Home » Аnalysis » Bitcoin’s Longest Re-Accumulation Phase Could Push Price to $96K, Says Analyst

Bitcoin’s Longest Re-Accumulation Phase Could Push Price to $96K, Says Analyst

November 13, 2024 19:00 1 min. read
SHARE: SHARES
Bitcoin’s Longest Re-Accumulation Phase Could Push Price to $96K, Says Analyst

Bitcoin (BTC) has just completed one of its longest re-accumulation phases in history, according to popular crypto analyst Rekt Capital.

In a recent YouTube update, the anonymous trader pointed out that the cryptocurrency has been in an extended price discovery phase, surpassing previous cycles in 2021, 2017, and 2013.

Rekt Capital explained that, unlike earlier cycles, this current phase has already lasted four weeks without significant pullbacks.

In contrast, past bull runs typically saw price discovery last between five to eight weeks before a retracement occurred. He mentioned that if the current cycle is similar to previous ones, Bitcoin could experience a few more weeks of upward momentum before any major correction.

Additionally, Rekt shared a price projection based on historical patterns, noting that if Bitcoin were to mirror the performance of the 2020 cycle, it could rise by as much as 106%. This would put the price of Bitcoin at approximately $96,500 by the end of 2024.

SHARE: SHARES
More from Bitcoin Analysis

Here’s Why Bitcoin Could Break $100K Sooner Than You Think

Bitcoin’s recent performance has renewed investor optimism, with the asset climbing 13% over the past month. Although it hasn’t yet broken the $100,000 threshold, several key indicators suggest a return to previous highs could be on the horizon. One of the clearest signs of growing confidence is the continued drop in exchange-held Bitcoin. When fewer […]

07.05.2025 8:00 2 min. read

Bitcoin Poised for Breakout as Historic Pattern Points to $150K Target

Bitcoin may be gearing up for a powerful move that could push its price into six figures, potentially soaring beyond $150,000—if a long-standing market pattern continues to unfold as expected. A technical setup observed by the analyst TradingShot suggests that Bitcoin is once again mirroring a signal that has historically preceded each of its major […]

13.04.2025 8:00 2 min. read

Bitcoin’s Bullish Pattern Might Be a Trap, Warns Veteran Trader

A widely recognized bullish formation in Bitcoin’s price charts might not be as promising as it appears, warns veteran trader Peter Brandt. The cryptocurrency has developed an inverse head-and-shoulders pattern, typically seen as a sign of a potential upward reversal. However, the structure presents a complication—the neckline is sloping downward. Brandt, who has spent over […]

30.03.2025 22:00 1 min. read

Bitcoin Set for Six-Figure Surge, But Expect a Pullback First

A popular crypto analyst is forecasting a major rally for Bitcoin, predicting it could eventually soar to six figures, but cautions that investors should expect a possible dip before the surge. According to Inmortal, Bitcoin is likely to briefly dip to around $85,000 before making its climb toward $100,000. He emphasizes that the cryptocurrency’s trajectory […]

28.03.2025 11:00 2 min. read