Bitcoin Pre-Halving Rally ‘Has Begun,’ but Ethereum and Altcoins Will Follow BTC – Here’s Why

According to analyst Rekt Capital’s newsletter, the Bitcoin “Pre-Halving Rally” phase began earlier than expected. Rekt Capital noted that Bitcoin had broken away from its Pre-Halving Downside period and entered a new Pre-Halving Rally phase. “The Pre-Halving Rally phase has begun, a little ahead of schedule,” noted Rekt Capital.

This Bitcoin breakout has major implications for the wider altcoin market. Rekt Capital explained that it is “kickstarting a new Money Flow Cycle.” Altcoins have started to react to Bitcoin’s new pre-halving rally stage. Besides, Rekt Capital analyzed that altcoin market capitalization broke out from its bullish pennant formation over the past few weeks, representing a historic breakout from this structure.

Breaking Out: Altcoins Follow Bitcoin’s Lead

As Rekt Capital pointed out, “After extended consolidation at highs, Altcoin Market Cap is ready for a new uptrend. Historically, yellow-circled retests have preceded uptrends to revisit the blue level at $250bn, which would set up another retest (blue-circled retest). Altcoins are going to increase in valuations over the coming several weeks.” Hence, with the altcoin market cap breakout, valuations of individual altcoins like Ethereum are anticipated to rise.

Rekt Capital discussed Ethereum’s price movement in detail . As predicted, Ethereum has rallied 15% from its range low and is moving towards its range high of $2791. “Generally, the fact that Altcoin Market Cap and Ethereum have broken out, shows that Ethereum is following Bitcoin and with time – Altcoins will too,” noted Rekt Capital.

Altcoins Bottoming Out for a Bullish Cycle

Moreover, this timing is beneficial as altcoins are currently in their lowest hype period for Q1 after experiencing significant retracements from late 2023 highs, according to Rekt Capital’s analysis. “Now, Altcoins should be bottoming in preparation for their next wave up,” commented Rekt Capital.

Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?🤫

The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.

Show more +

As per highly-regarded analyst Rekt Capital, the Bitcoin halving pre-rally has started alongside bullish breakouts in the altcoin market cap and Ethereum price. Individual altcoins are anticipated to follow the upward trajectory of Bitcoin and Ethereum over the coming weeks as they bottom out of their low hype cycle.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Samuel Munene
Samuel Munene

Samuel is a vesatile and seasoned content editor with a sharp eye for detail and a passion for writing. Web3 techonology is the future! With massive experience in the publishing industry, I specialize in refining and enhancing written material to ensure clarity, coherence, and engaging narratives.

CaptainAltcoin
Logo