Bitcoin 
$63,272 analyst Rekt Capital is known for accurately predicting expected declines in the cryptocurrency market. Now, he has announced the most negative scenario for BTC. The analyst, who has 90,500 subscribers on YouTube, stated that he is closely monitoring the $60,000 level, which is Bitcoin’s regrouping support.
Support Level and Possible Decline
Rekt Capital stated that Bitcoin falling below $60,000 could trigger a new capitulation event for BTC. The analyst emphasized that if it falls below this level, the market will retreat sharply and investors may suffer huge losses.
Pessimism Among Investors
“If this level is not tested, we will see a period of discounting again and fall below the regrouping range,” the analyst said. “At this point many people will experience capitulation, maximum pessimism and extreme fear,” he added.
Market Opportunities
However, Rekt Capital stated that such declines could present golden opportunities for long-term investors. The analyst said that Bitcoin has formed regrouping ranges during this bull market cycle and a move to new all-time highs may occur in this cycle as it has in the past.
“All these emotions are harbingers of financial opportunities. “History will not offer us anything different in this cycle either.”
The analyst stated that after the price reclaims the $60,000 support, it will climb to $70,000 and try to break the upper limit of this range. He stated that this process will mark the transition to the parabolic upward phase after the halving.
Currently, Bitcoin is trading at $63,654, up 3%. Rekt Capital continues to closely monitor the course of the market and advises investors to be careful.
“Different emotions and doubts bring opportunities for great gains in the long run,”
Historical Perspective
According to historical data, Bitcoin has gone through regrouping processes during each halving period and reached new peaks. Rekt Capital suggests that this cycle may repeat and urges investors to pay attention to market movements.
The printed result shows that Bitcoin investors should be prepared for market fluctuations. Possible declines in the market require careful analysis and strategy.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
