Rekt Capital Warns Bitcoin (BTC) Could Correct to $55000, Contradicting Raoul Pal\'s Bullish Q4 Forecast

Rekt Capital, a well-known crypto strategist, has issued a warning about a potential further correction for Bitcoin BTC/USD, suggesting a possible drop to $55,000.

Crypto strategist Rekt Capital, known for his accurate prediction of Bitcoin's pre-halving pullback, has now shared a new analysis suggesting a potential deeper correction for Bitcoin (CRYPTO: BTC).

This prediction contrasts with the recent forecast by former Goldman Sachs executive Raoul Pal, who anticipates a significant surge in Bitcoin and the crypto market in Q4 of the presidential election year.

What Happened: Rekt Capital speculated on the possibility of Bitcoin correcting to $55,000 during a recent YouTube video.

“What if we were going see a deepest correction in the cycle, or at least equal to the deepest correction in the cycle of 23.8%? That would see us go to $55,000.”

However, the analyst also suggested that a deeper drawdown is unlikely at this point in the cycle and that Bitcoin either hit a local bottom already or is experiencing a more shallow pullback.

“Is that a possibility that we see the deepest correction not too long after already seeing the deepest correction this cycle just after the halving? That was around late April, early May. We saw a record-breaking deep correction in this cycle. We eclipsed the early 2023 pullback, and it took a year and a half for that new record to come in,” the analyst said.

“So to now talk about another record and another deep retrace occurring only a month-and-a-half later, I think that’s a little bit too farfetched. I don’t think we’re going to eclipse that retrace depth for the deepest retrace in this cycle. I think it would be either this being the bottom already or a slight additional pullback,” he added.

Bitcoin Price Action: At the last check on Sunday evening, Bitcoin was trading at $61,376.35, down by almost 5% in the last seven days.

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