A trader and analyst is expressing a bullish outlook on Bitcoin (BTC) following a notable 13% increase in the leading cryptocurrency over the past two weeks. Operating under the pseudonym Rekt Capital, he shares insights with his 89,500 YouTube followers, indicating that Bitcoin is on the verge of a significant upward movement.

“This is indeed a pivotal breakout moment for Bitcoin, marking the transition into the parabolic phase of its cycle… We have only a few days left for this shift between the re-accumulation phase and the parabolic phase to effectively enter that breakout period.”

However, Rekt Capital cautions that Bitcoin may experience a slight decline of a few percentage points before the anticipated breakout occurs. “We still need to confirm this fully because technically, we could see a dip down to approximately $60,600 to retest the low of the re-accumulation range and establish new support. But this dip would be crucial for the price to expand within the range and eventually revisit the high of the re-accumulation range, which is around $73,800, leading to a potential breakout.”

Source: Rekt Capital/YouTube

Rekt Capital predicts that Bitcoin’s parabolic phase could reach its peak in the latter half of 2025, should historical patterns repeat. “When we break past the previous all-time high, we typically experience 273 days of upward movement following the 2012 halving… 250 days after the 2016 halving… and 329 days in 2021 before we see a peak in the bull market. If we pay close attention to the current all-time high region and manage to break it, we can reasonably expect the bull market peak to occur 250 to 329 days after that breakout.”

Source: Rekt Capital/YouTube

Currently, Bitcoin is trading at $63,650.

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Disclaimer: The views expressed in The Daily Hodl do not constitute investment advice. Investors are encouraged to conduct their own research before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and trades are conducted at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets and is not an investment advisor. Additionally, The Daily Hodl is involved in affiliate marketing.
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