A crypto expert and trader, who goes by the name Rekt Capital, has stated that Bitcoin (BTC) is no longer in danger of experiencing further market corrections. Rekt Capital, who has a substantial following of 76,900 subscribers on YouTube, has analyzed historical data and concluded that Bitcoin has surpassed the phase where it is at risk of dipping below its range low after the halving event. He refers to this phase as the “danger zone,” and believes that Bitcoin has now exited it. Furthermore, he suggests that the period of terror associated with downside volatility below the reaccumulation range low is also over. Rekt Capital believes that the correction bottom has likely been reached.

Drawing from previous market cycles, Rekt Capital asserts that Bitcoin has entered a reaccumulation phase, characterized by sideways trading. He emphasizes that this phase is ongoing and predicts that Bitcoin will fluctuate between the range low and the range high, specifically between $60,000 and $70,000, for the next few weeks. He adds that this phase can last for approximately 150 days.

As of the time of writing, Bitcoin is currently trading at $65,364, experiencing a decline of more than 1% in the past 24 hours.

Please note that the opinions expressed by Rekt Capital and reported by The Daily Hodl are not intended as investment advice. It is crucial for investors to conduct their own research and due diligence before engaging in high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. It is important to acknowledge that any transfers or trades are undertaken at one’s own risk, and any resulting losses are the individual’s responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it offer investment advice. Additionally, please be aware that The Daily Hodl engages in affiliate marketing.

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