Crypto Analyst Predicts New Bitcoin All-Time High In 2024; Why 2023 A 'Peak Financial Opportunity'

One of the top crypto traders and the pseudonymous strategist Rekt Capital recently shared his outlook on Bitcoin (CRYPTO: BTC). 

He laid out a timeline for Bitcoin’s next all-time high on his Twitter feed.  

“According to the Four-Year Cycle theory, a new BTC All Time High would occur at the soonest in Candle 4 (2024) & at the latest in the new Candle 1 (2025),” he said in the Twitter post. 

According to the Four Year Cycle theory, a new #BTC All Time High would occur at the soonest in Candle 4 (2024) & at the latest in the new Candle 1 (2025)

If a new ATH were to occur in the 2024 Candle 4, it would occur months after the April 2024 $BTC Halving#Crypto #Bitcoin pic.twitter.com/Mp2T61MqCE

— Rekt Capital (@rektcapital) December 30, 2022

Rekt Capital said he is upbeat about BTC’s all-time high level, “Historically, a strong indicator of where the BTC bottom is when the bearish BTC Candle 2 performs its Yearly Close.”

Historically, a strong indicator of where the $BTC bottom is is when the bearish #BTC Candle 2 performs its Yearly Close

And whatever downside wicking occurs in the following Candle 3 is just a bonus for bargain buyers#Crypto #Bitcoin pic.twitter.com/j7nRL95kf7

— Rekt Capital (@rektcapital) December 30, 2022

He mentioned Bitcoin’s relative strength indicator (RSI), which indicates possible trend reversals. 

Monthly #BTC RSI has reached new All Time Lows this month

RSI has been downtrending channel (orange) since turning past Bear Market Bottom area (green) into new resistance

A channel breakout could be a strong signal that $BTC is ready for a macro trend shift#Crypto #Bitcoin pic.twitter.com/hMJtmIypla

— Rekt Capital (@rektcapital) December 30, 2022

The crypto analyst also said that BTC price levels could potentially be approaching a “peak financial opportunity.” He spoke about why it’s essential to keep an eye on candle three in the four-year cycle theory. 

As #BTC is set to form a new Candle 3 in its current Four Year Cycle...

It is worth remembering that downside wicking in a Candle 3 has historically represented peak financial opportunityhttps://t.co/ZnZqEHVj3j$BTC #Crypto #Bitcoin pic.twitter.com/dc8uc4geHd

— Rekt Capital (@rektcapital) December 30, 2022

“Upcoming BTC Candle 3 in 2023 is a Bottoming year. But the 2024 Candle 4 is a Reversal year during which the BTC Halving occurs. Historically Candle 4 has at least eclipsed the preceding Candle 1 & Candle 2 resistance and at best rallied to a new All-Time High,” he said in the Twitter post. 

At the time of writing, Bitcoin was trading at $16,584, down by 1.5% in the last seven days. 

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