Source: Rekt Capital\/YouTube<\/figcaption><\/figure>\nAccording to Rekt Capital, Bitcoin possesses more upside potential ahead of the halving.<\/p>\n
\u201cSo this pre-halving rally is going strong and it will still go strong for a few more weeks. But before the halving is probably where we\u2019re going to start see some topping out.\u201d<\/i><\/p>\n
On how severe the correction is likely to be and how long it could last, the pseudonymous strategist says,<\/p>\n
\u201cAfter what was an explosive pre-halving rally, I wouldn\u2019t be surprised to see a pre-halving retrace followed by some sort of sideways movement for a few months. Because this vertical price action it\u2019s wonderful, it\u2019s exciting, but it can\u2019t continue forever.<\/i><\/p>\n
So this pre-halving retrace is going to likely occur, whether it\u2019s just 10%, 15%, 20%, maybe 25% if we\u2019re lucky. But a retrace does need to occur, for that\u2019s always going to be a healthy thing in a cycle.\u201d<\/i><\/p>\n
Bitcoin is trading at $62,159 at time of writing, up by around 22% in a week.<\/p>\n