Bitcoin has entered the final phase of its halving cycle, marking the start of a parabolic price uptrend. This event is accompanied by increased institutional interest and shrinking exchange balances, supporting investor confidence.
Bitcoin Halving Cycles Explained
According to Rekt Capital's analysis, Bitcoin (BTC) has entered the final phase of its halving cycle. Previously, Bitcoin broke out of its re-accumulation range, signaling its transition into the parabolic growth phase, which typically lasts around a year.
Institutional Investor Interest
Institutional investors are showing increased interest in Bitcoin. The drop in exchange balances indicates a reduced selling pressure, which reflects high investor confidence in Bitcoin.
Analysts' Predictions for 2024
Analysts predict that Bitcoin could reach a peak of $84,000 by December 2024. This forecast is based on historical post-halving trends and robust market dynamics.
Rekt Capital's analysis highlights the importance of Bitcoin's current phase. Increased investor interest and historical trends support growth predictions through the end of 2024.
