Bitcoin (BTC) Will Break Above $46,000 But Not So Fast: Analyst

• BTC would only trade above $46,000 after the halving, Rekt Capital said.
• The price climbed back above $40,000 amid new capital inflow.
• A move below $38,000 is possible in the short term if selling pressure continues.

Analyst Rekt Capital has made a new Bitcoin (BTC) price prediction, saying the coin might not rise above $46,000 until after the halving scheduled for April. According to the trader, once Bitcoin breaks its four-year cycle resistance, the path could be clear to the said price.

This month, BTC hit $49,000 hours after the U.S. SEC approved the Bitcoin spot ETFs. But the event which many expected to drive Bitcoin’s price higher than $50,000, turned out to be a “sell the news” event.

Recently, the selling pressure, especially those from Grayscale, has sent BTC plunging. At press time, BTC’s price was $40,086, representing a 7.33% 30-day decline.

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