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.

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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.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.