Crypto Analyst Rekt Capital recently suggested that the worst may be over for Bitcoin. If so, the flagship crypto could be ready to move higher, reaching up to $100,000which other crypto analysts predicted would be the case.
Bitcoin is out of the “danger zone”
Rekt Capital mentioned in an X (formerly Twitter) job that the post-Bitcoin halving “danger zone” is officially over. He added that Bitcoin is “celebrating with a good rebound in Reaccumulation range Weak support. The crypto analyst previously explained that the danger zone was the negative wick that Bitcoin experienced 21 days after the reduce by half in 2016.
Related reading: Crypto Analyst Predicts 3,000% Surge for Shiba Inu – Here’s the Timeline
![Bitcoin 1](https://bitcoinist.com/wp-content/uploads/2024/05/Bitcoin-1-1.png?w=512&resize=512%2C360)
Rekt Capital also revealed at the time that Bitcoin had “perfectly” repeated the story of 2016, with the flagship crypto falling below the bottom of its current reaccumulation range. Meanwhile, based on crypto analyst’s insights previous analysisBitcoin is now heading towards the reaccumulation phase, which occurs after the halving.
Rekt Capital claimed that this period usually lasts up to five months, but added that it could be shorter this time. The crypto analyst predicts that BTC could maintain a “steady sideways range and may not last very long before the uptrend continues.” Rekt Capital also suggested this $60,600 would likely form the basis of the reaccumulation range.
In a sequel Message, Rekt Capital hinted that things will likely improve from here on out for the flagship crypto. He said: “Bitcoin is showing early signs of slowing its sales momentum, slowly developing a loop against the $60,000 support.” “$60,000 must continue to be maintained as it has been so far for this loop to progress and eventually recover,” he added.
Rekt Capital note in another article According to him, this month and next month could be “unremarkable” because Bitcoin lacks “unremarkable months” before the “parabolic phase of the cycle” begins.
![Bitcoin2](https://bitcoinist.com/wp-content/uploads/2024/05/Bitcoin-2-1.png?w=512&resize=512%2C361)
Arthur Hayes, co-founder and former CEO of crypto exchange BitMEX, also echoed a similar sentiment when he declared that Bitcoin had found its local bottom and would be between $60,000 and $70,000 until August.
$100,000 could be BTC’s next stop after this phase
Based on price predictions made by several crypto analysts, Bitcoin will likely climb to $100,000 once this consolidation period is over. One such analyst is pseudonymous crypto analyst PlanB, who claims that BTC reaching this price level this year is “inevitable.” Tom Dunleavy, Partner and Chief Investment Officer (CIO) at MV Capital, also had predicted Earlier in the year, Bitcoin would hit $100,000 after the halving.
Meanwhile, crypto analyst Ali Martinez suggested that Bitcoin will at least get close to this price level even if it ultimately does not reach it. He said a rise above $66,250 would give the flagship cryptocurrency enough strength to move towards $69,150. Martinez claimed that BTC could move to a new absolute record (ATH) of $92,190 if it eventually breaks through this resistance level.
Featured image from Finance Monthly, chart from Tradingview.com