An influential analyst in the cryptocurrency industry suggests that the markets have yet to fully adapt to the recent Bitcoin halving, which resulted in a 50% reduction in miners’ rewards.

In a newly released video update, a trader known as Rekt Capital informs his 77,000 YouTube followers that historical data indicates that Bitcoin typically experiences a parabolic surge following a halving event. However, he points out that it usually takes a few months for the halving’s impact to be fully reflected in the price.

“The Bitcoin halving has not been fully priced in yet. Historically, after a halving, we have witnessed significant upward movement in this phase of the cycle. We have already seen new all-time highs but have been consolidating for a while, so it’s only a matter of time before we break to new all-time highs once again.

Of course, this isn’t on a logarithmic scale, so I don’t expect the price to skyrocket to $400,000 or any other extreme value. Historically, we have seen a consolidation period of over 150 days before a breakout occurs, leading to a parabolic rally that lasts for several months. Currently, we are in a re-accumulation phase, and the longer this phase lasts, the better it will be for the subsequent uptrend.”

Rekt Capital recently stated that Bitcoin has officially moved out of the “danger zone” where corrections typically occur in its market cycles. However, he believes that the cryptocurrency may not experience breakout rallies to new all-time highs until around September of this year.

As of now, Bitcoin is being traded at a price of $68,580.

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