Frightening comment for Bitcoin (BTC) from the famous analyst!

According to a crypto analyst based on old data, the “dangerous period” in Bitcoin seems to be over.

On May 13, crypto analyst “Rekt Capital” refreshed the Bitcoin cycle chart on X, stating that the correction after the halving is over.

“Bitcoin is celebrating with a “good rally from the bottom of the accumulation area.”

The danger periods before and after the halving caused BTC to retreat in the past years. Today, BTC has fallen 23 percent from its peak price in mid-March, falling to $56,800 on May 1. The popular analyst said that if $56,000 is not the bottom, “then this pullback will be equal to the longest duration in this cycle at 63 days.”

Based on historical data, the pullback was expected to end at $56,000 and in 47 days.

BTC is currently trading around 63 thousand dollars. Historical cycle movements are not always indicative of future movements. Further pullbacks may still be on the table during the flat market period following the halving. However, the analyst is confident that current support levels will be maintained:

“Bitcoin is showing signs of slowing down in its sell-side momentum and is trending towards oscillating against the $60,000 support.”

This level must be maintained for Bitcoin to rise. Rekt Capital thinks the price will rise to 68 thousand dollars in the short term. “Macro summer and fall are driven by the global liquidity cycle,” Raoul Pal, founder of Global Macro Investor, said in a May 13 post on X.

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