Last Year’s Analysts Predicting Bitcoin’s Pre-Arrangement Corrections Say Explosive BTC Still in Play Despite This Month’s Corrections
Analyst, pseudonymously known as Rekt Capital, told his 107,000 YouTube followers that Bitcoin remains in the “banana zone” based on historical precedence.
The banana zone is a term used by cryptocurrency analysts to describe periods of rapid and explosive price growth for digital assets.
“This is still the banana zone. The banana zone doesn’t happen just in a vertical line, it’s moving upwards.”
Source: Rekt Capital/YouTube
He also noted that past cycles have seen multiple corrections within the banana zone, predicting Bitcoin will replicate a similar pattern.
“These price discovery corrections can happen quite frequently… If we’re talking about the current pullback, this is the first price discovery correction. There were three in 2021. Four in 2017. So I think we can expect at least another price discovery correction in the future.”
Source: Rekt Capital/YouTube
Bitcoin is trading at $87,305 at the time of writing, remaining flat for the day.
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