A widely followed crypto trader is taking a look at king crypto Bitcoin (BTC) while diving into two top altcoin projects.
Crypto analyst Rekt Capital tells their 368,900 followers on the social media platform X that history repeating itself could have two very different outcomes for BTC over the coming months.
“If 2016 history repeats – Bitcoin will probably continues sideways until two months before the Halving.
If 2019 history repeat – Bitcoin could see one final deeper retracement going into the Halving 2024.”
Source: Rekt Capital/X
Bitcoin halving is a feature of the Bitcoin blockchain algorithm that reduces the reward for mining new Bitcoin by 50%. The next halving event is expected in April 2024.
BTC is worth $36,024 at time of writing, down 3%