Analyst Predicts Bitcoin’s Future

An analyst known as Rekt Capital, who successfully predicted Bitcoin’s pre-halving correction last year, asserts that a significant BTC rally is still possible despite recent corrections.

The Banana Zone

Rekt Capital explains the concept of the “banana zone” to his 107,000 YouTube subscribers. This term refers to a phase characterized by rapid price increases for cryptocurrencies.

> “This is the banana zone still. The banana zone doesn’t just occur in just one vertical line towards the upside. The banana zone is comprised of an uptrend, a first price discovery correction, a second price discovery uptrend, and also a second price discovery correction. This is what the chart indicates as well, suggesting we may experience correction phases as part of a larger parabolic upward trend.”

He notes that previous cycles exhibited multiple corrections during the banana zone and foresees Bitcoin following a similar pattern:

> “These price discovery corrections can occur quite frequently… If we’re discussing the current pullback, it represents the first price discovery correction. In 2021, there were three, and in 2017, there were four. We can expect at least one more price discovery correction in the future.”

At the time of writing, Bitcoin is trading at $87,305, remaining stable throughout the day.