Renowned crypto analyst Rekt Capital suggests that Bitcoin (BTC) could be on the verge of a significant rally, drawing from historical trends. With a following of 475,500 on the social media platform X, Rekt Capital predicts that Bitcoin is gearing up for a breakout similar to the ones witnessed in 2020 and 2021.

According to the analyst, if Bitcoin confirms a breakout into the “parabolic phase” of the cycle, it would mark an earlier occurrence compared to previous cycles. This potential breakout could set a new record as the fastest post-halving re-accumulation breakout in history.

Furthermore, Rekt Capital believes that a parabolic Bitcoin surge would have a ripple effect on altcoins, driving up their prices due to increased market liquidity. This injection of capital into the crypto market could fuel an altcoin hype cycle in the second quarter.

As of the time of writing, Bitcoin is trading at $69,208, experiencing a slight decrease of over 1% in the last 24 hours. The analyst also provides insights on dogwifhat (WIF), cautioning that a failure to maintain a key trendline as support could signal the end of the memecoin’s bullish trend.

WIF is currently trading at $2.93, showing a decline of 9.27% in the last 24 hours. To stay updated with the latest news and analysis, subscribe to receive email alerts directly to your inbox.

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