Since the pullback has already occurred, bitcoin has entered the re-accumulation phase. This phase is characterized by sideways price movement and lays the groundwork for the next growth phase.
According to experts, the re-accumulation process usually takes several weeks, sometimes 150 days or even longer. During this time, he believes investors become impatient, bored and anxious because nothing is happening in terms of price fluctuations.
The goal now is for #bitcoin to move sideways, half price and beyond. <... > Many investors at this point are shaking with boredom, impatience and frustration at the lack of serious results from their #BTC investment right after the price halves.
Once bitcoin moves out of the re-accumulation range, it will move into an accelerated growth trajectory amid bullish sentiment. Analysis shows that historically, this phase lasts for more than a year. However, Rekt Capital suggested that this timeframe could be significantly shortened due to the potential for an accelerating cycle in the current market.
It is worth noting that this change in timeline may be partially attributable to bitcoin's recent all-time high. Historically, bitcoin usually reaches an all-time high after halving in value. However, in the current cycle, bitcoin reached a high of over $73,000 prior to this event.
The impact on the overall market of exchange traded funds (ETFs) launched in the U. S. in January could also change this chart.
Overall, bitcoin is consolidating above US$67,000 and should find its way to US$68,000. At the time this article was published, bitcoin was trading at US$ 67,544.
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