Bitcoin climbed above $66,000 on Friday, highlighting the growing bullish momentum.
Exiting the accumulation period could trigger Bitcoin’s parabolic run.
Hong Kong plans to become a global OTC center.
Bitcoin climbed above $66,000 on Friday, adding to the bullish momentum in the cryptocurrency market. The cryptocurrency’s recent price action has led some analysts to believe it has established a bottom and is ready for the next stage of the bull cycle. One such analyst is Rekt Capital, who thinks Bitcoin is on track for an extended rally, based on historical patterns.
Bitcoin’s Reaccumulation Phase
In a recent podcast, Thinking Crypto YouTube channel host highlighted Rekt Capital’s Bitcoin analysis, showing how Bitcoin returned to its reaccumulation range, repeating a pattern from the previous bull cycle. Rekt Capital says the recent move by Bitcoin ended the downside deviation, ending the bargain-buying period.
The analyst noted that exiting the accumulation period could launch a parabolic run for Bitcoin and altcoins. He said historical patterns reveal that liquidity typically flows into Bitcoin during the bull run and then into altcoins. He bel…
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