Crypto analyst Rekt Capital, known for accurately predicting Bitcoin’s downturn earlier this year, believes that Bitcoin could enter a bullish trend in the coming weeks. In a statement to his 87,600 subscribers on YouTube, Rekt Capital highlighted Bitcoin’s potential for a climb in October based on its performance during previous halving years.
Past Halving Years and October Performance
Based on historical data, Rekt Capital pointed out that Bitcoin usually performs strongly in October, and a similar trend could be observed this year. The analyst forecasts that Bitcoin may showcase a double-digit increase in October. By recalling increases of 14% and 27% in the halving years of 2016 and 2020, respectively, he suggested that Bitcoin could reach new heights this year as well.
Rally Trends and Potential Gains
According to Rekt Capital, Bitcoin may enter a more pronounced rally phase in the upcoming weeks. Historical data indicates that approximately 160 days after a halving event, Bitcoin tends to break free from accumulation ranges. In this context, late September and early October could be a critical period for Bitcoin to transition into a parabolic phase. Currently, Bitcoin is trading at $60,592, having risen by 4.49% in the last 24 hours. This situation may indicate that Bitcoin has started its anticipated post-halving rally. Based on the analyst’s estimates, Bitcoin could experience a value increase ranging from 14% to 27% in October. Such potential increases imply that Bitcoin could reach all-time highs. However, these forecasts do not guarantee certainty as they are based on historical data.
Conclusion
Bitcoin’s future performance should be carefully monitored, as it can be influenced by various factors. Rekt Capital’s evaluations may provide insights into Bitcoin’s short-term movements for investors. Nonetheless, considering the volatile nature of crypto markets, it is essential to conduct a thorough analysis when making investment decisions.
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