A popular crypto analyst says that Bitcoin (BTC) is set to decline later this year, only to rebound in 2023.
In a new video update, Rekt Capital Tells 45,100 YouTube subscribers What to expect from King’s crypto for the next 6 months.
The analyst looks at past market cycles in relation to the bitcoin halving, which occurs when the rewards for bitcoin mining are halved every four years.
“About 450 to 400 days before the halving event, we see the end of the overall downtrend.
This is what it is about.
The end of a macro downtrend and the beginning of a new macro uptrend. This coincides with leaving the scope of accumulation.”
Looking at this historical pattern, Rekt Capital is predicting the next BTC market bottom in relation to the next chart halving.
“We will see a breakout in a new macroeconomic uptrend in the late first quarter of 2023. What that also indicates is that we will probably see a bottom in the fourth quarter of this year, maybe even into November.”
BTC is trading at $23,143 at the time of writing.
Analyst too Peeks Cautious on Ethereum (ETH)-based platform Chainlink (LINK) oracle, apparently confirming recent LINK hack.
LINK has successfully retested the top of the falling wedge as support, confirming the breakout
All LINK needs now is to monitor the buy side volume to ensure the trend continues beyond the black resistance at $7.78. “
Chainlink is up 6% from last week and currently stands at $7.68.
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should perform their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrency or digital assets, and The Daily Hodl is not an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Featured Image: Shutterstock / Giovanni Cancimi / Sensvector