← Go back Sep 09, 2023
A well-known cryptocurrency analyst, Rekt Capital, recently outlined his Bitcoin (BTC) strategy and shared insights on Dogecoin (DOGE). Rekt Capital, a pseudonymous crypto trader, revealed a plan to employ a dollar-cost averaging approach with in anticipation of the upcoming Bitcoin event. In simple terms, this means he intends to invest a fixed amount of money at regular intervals during the remaining Pre-Halving period to potentially benefit from the expected price increase after the halving. The Bitcoin halving is a scheduled event that reduces the mining reward for new bitcoins by 50% every four years, making Bitcoin scarcer and potentially more valuable over time. The next halving is set for April 2024. Dollar-cost averaging is an investment strategy where an individual invests a fixed amount of money at regular intervals, regardless of the asset’s current price. This approach helps investors mitigate risk and achieve a lower average cost per share over time. Rekt Capital also provided insights into Bitcoin’s candlestick chart, suggesting that successfully interpreting Candle 3 could lead to potential rewards with Candle 4 and Candle 1. Shifting to Dogecoin in his , Rekt Capital mentioned that despite experiencing a recent downward movement, there are signs of a potential bullish divergence. This means that as long as DOGE maintains support at the Channel Bottom, there’s a chance that the price could eventually revisit the Channel Top over time. On a broader scale, DOGE is currently consolidating within this channel until further developments arise.
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