By Solomon Odunayo
A popular cryptocurrency analyst and trader, Rekt Capital, has recently itemized the three important ways to handle Bitcoin (BTC) volatility as Bitcoin Halving counts down. He thereby advised investors and traders to take note.
Rekt Capital shared this advice via his Twitter handle a couple of hours ago. In the tweet, he acknowledged the high volatility of Bitcoin (BTC) whenever halving is around the corner.
He said history has taught him to turn the volatility of the digital currency to his advantage. He then mentioned three important ways to handle the great feature.
He said,
“Historically, BTC experiences a lot of volatility as it approaches the Halving. But history has taught us a couple of things on how to handle this volatility: a) Don’t get shaken out b) Accumulate on stronger pullbacks c) HODL for exponential post-Halving gains.”
Historically, $BTC experiences a lot of volatility as it approaches the Halving
But history has taught us a couple of things on how to handle this volatility:
a) Don't get shaken out
b) Accumulate on stronger pullbacks
c) HODL for exponential post-Halving gains#Bitcoin pic.twitter.com/H9hjFdBwAk
— Rekt Capital (@rektcapital) April 25, 2020
Bitcoin (BTC) Before and After Halving
Bitcoin halving is expected to play out in a matter of days from now. Many cryptocurrency enthusiasts are already looking forward to seeing the favorable outcome of the event would initiate.
Some crypto analysts are of the opinion that the digital currency could still hit $9,000 within the remaining 17 days to the periodic event.
According to the history of Bitcoin, days before halving are always full of several favorable and unfavorable price volatilities. Considering the present state of BTC, such a scenario is already happening.
Bitcoin experienced a full display of high volatility when it lost over 50% of its price within 24 hours. Back then, BTC traded slightly at $3,000 price region. Afterward, the digital currency displayed another volatile trend to reclaim $6,000 price level in a matter of hours. That’s the capability of Bitcoin when it comes to going back and forth in terms of price.
Actually, BTC is already showcasing its usual pre-halving trend, but the most anticipated post-halving trend will remain uncertain until it plays out afterward.
Bitcoin is now becoming stable above $7,500 support level, indicating a further price uptrend in preparation for halving. At the time of filing this report, BTC is trading at $7,586.38, with a 0.65% price uptrend in the last 24 hours.