That’s what a pseudonymous crypto analyst predicts Bitcoin BTC/USD will make history with a decisive upswing.

In a tweet on Friday rect capital told his followers that the cryptocurrency would enter macro downside resistance in April, a trend that has kept Bitcoin bearish since its all-time high in 2022.

Bitcoin broke out exactly 396 days before the halving scheduled for April 2024. The halving occurs when the amount of newly issued BTC is halved.

Interestingly, Rekt Capital also noted that Bitcoin broke out in 2019 exactly 396 days before the 2020 halving. He added that the cryptocurrency “is tending to break the macro downtrend about a year before its upcoming halving.”

In another tweetRekt Capital said that another factor favoring Bitcoin is “a quarterly bullish engulfing candle.”

“BTC is on the verge of confirming its first quarterly bullish engulfing candle since early 2020. Historically, quarterly bullish engulfing candles have preceded multiple up quarters,” he wrote.

Now cryptanalyst and economist Alexander Krueger pointed out that Bitcoin plays a different role in investors’ portfolios today than it did in the past. In a tweet, he wrote that bitcoin would not make anyone as rich as it did 10 years ago, stating that cryptocurrency is now a powerful way to preserve wealth and store value.

“People should no longer buy bitcoin to get rich. This boat has sailed. Bitcoin is now used for wealth preservation, attractive risk-adjusted returns, trading and hedging against the fiat system,” he said tweeted.

At the time of writing, Bitcoin was trading at $28,300, up about 1% over the past seven days.

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