A cryptocurrency strategist who accurately predicted Bitcoin’s pre-halving pullback now warns of potential further declines for the digital currency.

Rekt Capital, known by a pseudonym, cautioned his substantial YouTube following of 79,900 subscribers that Bitcoin might experience a significant correction, possibly exceeding 8% from its current value. He suggested a scenario where Bitcoin could drop to $55,000, marking a potential 23.8% correction, a level comparable to the deepest observed in this cycle.

However, Rekt Capital also expressed skepticism about the likelihood of such a profound downturn occurring so soon after the recent record-breaking correction in late April and early May, which surpassed previous pullbacks dating back to early 2023. He hinted that Bitcoin may have already found its current low or could undergo a more moderate pullback instead.

As of the latest update, Bitcoin is trading at $60,784, reflecting a decline of over 2% in the past 24 hours.

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