dailyhodl.com
A closely followed crypto analyst says that Bitcoin ($BTC) is currently decisively in the midst of its pre-halving rally.
Pseudonymous crypto strategist Rekt Capital tells his 410,900 followers on the social media platform X that despite this, the top crypto asset by market cap could still see some dips along the way.
“Bitcoin is still firmly in its pre-halving rally phase but as is the case with pre-halving rallies – dips can happen. Bitcoin briefly dipped -14% yesterday. The best we can hope for are these dips, but be careful what you wish for – dips do happen.”
The trader’s chart indicates that during the 2020 cycle, Bitcoin went through a post-halving slump before going parabolic – something that he predicts will happen again this year.
$BTC’s next halving event is slated for April and will see miners’ rewards cut in half. The crypto king is trading for $67,200 at time of writing, a fractional increase during the last 24 hours.
Moving on to dog-themed digital asset Dogecoin ($DOGE), Rekt Capital says that the popular memecoin has confirmed a new macro uptrend after successfully retesting its support level.
“$DOGE has successfully retested the macro downtrend as new support. A successful retest after just breaking a macro downtrend means that a new macro uptrend has been fully confirmed.”
The trader’s chart shows that Dogecoin could shoot past the $0.20 price tag before June. $DOGE is trading for $0.153 at time of writing, a 2.5% increase during the last day.
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