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Crypto analyst and trader Rekt Capital, followed by cryptocurrency investors, revealed his overall bullish sentiment towards two leading altcoin projects. The analyst also commented on the current status of Bitcoin (BTC).
Analyst’s Bitcoin Comment
Crypto analyst Rekt Capital told his followers on the social media platform X (formerly known as Twitter) that history repeating itself could lead to two different outcomes for BTC in the coming months. The analyst said, “If the events of 2016 were to happen again, Bitcoin would likely continue its sideways movement until two months before the block reward halving. If the events of 2019 were to happen again, Bitcoin could experience a significant pullback towards the block reward halving in 2024.”
The block reward halving reduces the mining reward in BTC per block by 50%. The next block reward halving is expected to occur in April 2024.
Rise Expectations for Dogecoin and Ocean Protocol
Following Bitcoin, Rekt Capital, who looked at Dogecoin (DOGE), stated that the largest memecoin is now confirmed to be in an upward trend. In his comment on DOGE, the analyst said, “It closed above the upper channel resistance. After breaking the upper channel resistance, it retested it as support. We are now enjoying the continuation of the upward trend after a confirmed breakout. DOGE has risen over 50% since the bottom of the channel. DOGE has confirmed a breakout from its channel.”
Lastly, Rekt Capital examined Ocean Protocol (OCEAN), a project aiming to enable users to access and monetize data using artificial intelligence (AI). According to the analyst, OCEAN is signaling a much stronger upward movement:
OCEAN is successfully retesting the local support level (green) signals. This has been happening for three consecutive weeks. The ongoing price stability here should come before a rise to $0.48 (red).
