Are We Out Of The Woods? Analyst Bullish On Bitcoin’s 6-Figure Future

Are We Out Of The Woods? Analyst Bullish On Bitcoin’s 6-Figure Future


Bitcoin (BTC) began the month with the deepest retrace of the cycle, falling to the $56,000 support level. The retrace raised alarms for some crypto investors and market watchers, who feared the bull run had ended.

Since then, the largest cryptocurrency by market capitalization has recovered crucial levels, and analysts have identified bullish patterns on BTC’s chart, suggesting that it might finally be out of the woods.

Is Bitcoin Out Of Danger?

As the May 1st retrace developed, crypto analyst Rekt Capital highlighted the similarities between Bitcoin’s 2016 and 2024 post-halving performances. He suggested that the flagship cryptocurrency’s price development came “as no surprise,” as it was mirroring the “post-Halving Bitcoin Danger Zone” of 2016.

Per the analyst, the “Danger Zone” is officially over, which BTC

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