According to an analyst known as Rekt Capital, Bitcoin is on the verge of entering another explosive phase in its market cycle. The analyst believes that Bitcoin may soon experience a massive breakout following a recent correction. However, he also warns that a severe correction may follow the next rally, based on historical patterns. The analyst predicts that this potential correction could be deeper than the recent 17% pullback and may cause a lot of retail investors to exit the market. Despite this, the analyst expects Bitcoin to enter a third price discovery phase after the severe correction, indicating that the overall cycle is not yet finished. As of now, Bitcoin is trading at $104,565.



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