Bitcoin Offers 'Last Bargain' Opportunities Before Parabolic Rally Breaks Out, Trader Says – Here's the Timetable

A closely watched analyst believes that Bitcoin (BTC) is currently consolidating while preparing for a parabolic move.

In a new video update on YouTube, pseudonymous analyst Rekt Capital tells his 70,600 subscribers that Bitcoin's current value may not last much longer as he believes based on historical precedent that the king crypto will soon reach new all-time highs.

“That re-accumulation range at those highs [around $70,000] is just noise that prepares us for the bigger step.

And it's a question of when rather than if, and it's also a matter of time, because the more we can consolidate here, the more bargain buying opportunities we'll have before we inevitably start that fantastic uptrend. So any pullback, any consolidation here are the last bargain buying opportunities before we enter the parabolic uptrend.

Historically, this parabolic uptrend should occur after the halving and several weeks or even a few months after the halving.”

Source: Rekt Capital/YouTube

The trader also notes that the parabolic uptrend that typically occurs after Bitcoin's halving events could occur earlier than usual this cycle due to the impact of spot Bitcoin exchange-traded funds (ETFs) launched in January. Bitcoin has already reached a new all-time high earlier this cycle than historical price patterns.

“Once we break through those old all-time highs, we will enter price discovery and that parabolic uptrend, which would actually just significantly shorten the pre-halving phase, the re-accumulation phase, and take us to new all-time highs, turning it into a parabolic rally, what else “has never happened before, and that’s understandable because we see how the ETFs play into the price movement.”

Bitcoin is trading for $69,983 at the time of writing, down more than 1% in the last 24 hours.

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