Analysts closely following altcoins predict when they will recover and move into the next phase. “hype cycle.”
Rekt, a pseudonymous social media analyst, told his 450.400 followers that the altcoin markets tend to cycle in waves of quarterly cycles, the most recent one peaking just this month.
Rekt says that the altcoins are likely to reach their bottom by late May or June. “hype cycle” In July, there are many holidays.
“Altcoins are following the plan…
Altcoins reached their lowest point in early February.
Altcoins will be sold at the same time as BTC is halved.
Altcoin bottom to early summer.
Rekt says despite BTC’s He still believes that crypto-king is in bull market, even after a correction. The trader believes that BTC is going to dip low enough for bulls to doubt themselves before it reverses.
Bitcoin will go back far enough for you to believe that the bull is over
The trend will then resume.”
This trader predicts the price to remain stable between $60,000.00 and $70,000.00 for a couple of weeks, before moving higher following this month’s half-off in miners’ bonuses.
Bitcoin is technically still in the transitional phase between the pre-halving phase retrace of its cycle (dark-blue circle) and re-accumulation (red).
This retracement is about establishing the next Re-accumulation Phase (red)
We can now see where high resistance to re-accumulation is located (horizontal red).
It’s time to figure out the low of the range of reaccumulation (green horizontal).
The -18% retrace before halving has marked what could be the lowest point of the range.
If ~$60,000 continues to be the bottom… BTC could consolidate anywhere between $60k and $700k in the weeks to come, including the half-off and beyond.”
Bitcoin was trading at $66,360 as of the time this article went to press, an increase of over 2% within 24 hours.
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