Bitcoin: Analyst Predicts When Investors Can Snag Bargain BTC Deals

Well-known crypto analyst Rekt Capital, which accurately predicted Bitcoin's decline earlier this year, presented a potential bearish scenario for the cryptocurrency.

The expert warned, that Bitcoin’s support level at $60,000 is crucial. A move below it could trigger a major capitulation event where extreme fear and pessimism would dominate the market.

Rekt Capital explained that a break of this key level would lead to a period of “bargain buying” as investors would sell in panic.

Despite the short-term volatility, the analyst remains optimistic about Bitcoin’s overall trajectory. He suggests that BTC has consistently formed and exited re-accumulation ranges throughout this bull market cycle.

If the cryptocurrency manages to regain $60,000 as support, he Rekt believes the price could rise to $70,000 and eventually exceed it, leading to a “parabolic phase of rise” after the halving event.

The expert believes that Bitcoin’s history shows similar cycles, with the current phase likely to be another re-accumulation phase before a big spike.