Bitcoin’s Fourth Halving Sparks Post-Halving Re-Accumulation Phase

Bitcoin experienced its much-awaited fourth halving on Saturday, April 20th, at block height 840,000, while the Bitcoin price remained stable at around $64,000.

Many are hopeful that this halving will cause a supply shock, leading to a strong rally in the BTC price.

Rekt Capital has announced the end of the pre-halving period and the beginning of the post-halving re-accumulation phase. This phase is considered the final opportunity for bargain-buying before Bitcoin moves into the parabolic phase of the cycle.

Historically, the Bitcoin pre-halving retrace has set the stage for the next phase in the Bitcoin halving cycle.

During the post-halving re-accumulation range (marked in red), the bottom of the pre-halving retrace serves as the base of the re-accumulation (i.e., range low). With the establishment of this range low, a period of consolidation begins, preparing for an eventual breakout into parabolic upside (highlighted in green).

#BTC

The Bitcoin Re-Accumulation Phase begins (red)$BTC #Bitcoin #BitcoinHalving pic.twitter.com/xYUtGMoNtg

— Rekt Capital (@rektcapital) April 20, 2024

Market analysts have already started predicting the next price targets for Bitcoin based on the post-halving behavior from the previous events.

Price range for Bitcoin in the 4th halving cycle:

upper bound ~ $4,500,000
lower bound ~ $140,000

That is *if* Bitcoin ends up following a growth trajectory in the range of the previous cycles. pic.twitter.com/s93yldJEI0

— ecoinometrics (@ecoinometrics) April 20, 2024

Following a strong run-up in the pre-halving period and the entire Q1, altcoins have entered a significant retracement in recent weeks, in line with the Bitcoin price volatility observed recently.

Rekt Capital notes that altcoins are aligning with the projected trajectory. As observed, altcoins hit their bottom in early February, indicating a significant milestone in their market movement. Additionally, there was a noticeable sell-off among altcoins coinciding with the Bitcoin halving event, further reflecting their correlation with BTC’s market dynamics.

$ALTS

Altcoins are following the plan…

Altcoins bottomed in early February ✅

Altcoins sold off around the #BTC Halving ✅

Altcoins to bottom early Summer ⏱️$BTC #BitcoinHalving #Bitcoin https://t.co/g5QUFID6jg pic.twitter.com/OsuH9kmgf5

— Rekt Capital (@rektcapital) April 20, 2024

Looking ahead, Rekt Capital anticipates that altcoins will reach their bottom once again in early summer, suggesting a continuation of their cyclical patterns within the broader cryptocurrency market.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.