Famous cryptocurrency analyst Rekt Capital, Bitcoin $60,045He predicts that could rise in the coming weeks. The analyst notes that Bitcoin has historically had a strong October during halving years. Earlier this year, Bitcoin experienced a halving event where miner rewards were cut in half.
Double-Digit Rise Expected in October
Rekt Capital says that Bitcoin could show a double-digit increase in October. The analyst, who points out that Bitcoin increases by 14% and 27%, especially in halving years, reminds that this situation occurred in 2016 and 2020. It is stated that a 14% increase in October could carry Bitcoin to $67,500.
It is stated that the 27.5% increase seen in October 2020 could take Bitcoin to new heights. According to the analyst, there is a potential return between 10% and 27% in October.
On the Verge of a Parabolic Phase?
Rekt Capital states that Bitcoin is weeks away from the start of a larger bull phase. When historical data is examined, it is noted that the re-accumulation range after the halving was broken within 160 days. It is stated that this situation could happen in late September or early October.
The analyst suggests that Bitcoin is in a range between $55,000 and $73,000, and a breakout from that range could signal a parabolic phase.
Bitcoin is trading at $60,592 at press time and is up 4.49% over the last 24 hours.
Rekt Capital’s forecasts are based on historical trends in Bitcoin and can be an important guide for investors. However, the volatile nature of cryptocurrency markets should be taken into account and investments should be evaluated carefully. Bitcoin’s strong performance in October could create opportunities for investors, but potential risks should not be ignored.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
