dailyhodl.com
15 February 2024 21:48, UTC
One widely followed crypto analyst is expressing amazement at Bitcoin’s ($BTC) latest historic rise.
Pseudonymous crypto trader Rekt Capital shares his incredulity at $BTC’s meteoric rise with his 400,000 followers on the social media platform X.
“Can you believe Bitcoin’s price has increased by almost $10,000 over the past 10 days?”
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Speaking toward the commentary that often accompanies Bitcoin’s volatile up-and-down prices, the analyst pokes a little fun at the crypto community.
“With $BTC rallying this much to the upside, many will doubt whether $BTC will ever perform a pullback
But when a pullback occurs, many will doubt whether $BTC will ever perform another rally”
According to the analyst, traders who bought into the crypto king last month due to a fear of missing out (FOMO) got lucky and have been up big since.
“Those who FOMO’d in on $BTC in that week of January are probably up +30% on their positions.”
$BTC is worth $52,322 at time of writing, up 15% in the last week and 21% in the last 30 days.
According to the analyst, the next ‘bargain’ opportunity for $BTC traders during the pre-halving period is upcoming.
“The pre-halving retrace (dark blue circle) will be the last bargain-buying opportunity in the pre-halving period”
The pre-halving period refers to the time before $BTC’s halving, a pre-programmed event that occurs approximately every four years and cuts $BTC mining rewards in half. The next halving event is expected in April of this year.
