A well-known analyst who accurately predicted Bitcoin’s pre-halving pullback last year is still optimistic about BTC’s potential for a major upward move, despite recent price corrections.
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The analyst, known as Rekt Capital, states that Bitcoin is still in what he calls the “banana zone,” a term referring to a phase of rapid and explosive price surges that often includes multiple corrections.
Rekt Capital explained that the banana zone isn’t a straightforward, linear ascent. Instead, it involves a series of price discovery phases, including upward trends followed by corrections.
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He pointed out that Bitcoin is currently experiencing one of these corrections, but that this is typical in the broader context of strong, parabolic growth.
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The analyst noted that in past market cycles, Bitcoin has experienced several price corrections during this “banana zone” phase.
For example, in 2021, Bitcoin saw three corrections, while 2017 experienced four. Based on this historical trend, he believes Bitcoin could experience at least one more correction before continuing its upward trajectory.
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Alexander Stefanov
