Rekt Capital, a cryptocurrency analyst, Bitcoin $60,045He suggested that Bitcoin could start an uptrend again in the coming weeks. The analyst noted that he expects a strong rally in October based on Bitcoin’s performance during the halving years. Bitcoin experienced a halving event this year, which saw miner rewards cut in half.
October Expectations
Rekt Capital stated that he expected a double-digit increase in October. Noting that Bitcoin increased by 14% and 27% in 2016 and 2020, respectively, the analyst said that a similar increase could occur this year. He predicted that a 14% increase could bring Bitcoin’s value to $67,500.
Historical Data and Future Forecasts
The analyst stated that according to historical data, Bitcoin entered an upward trend again approximately 160 days after the halvings. These calculations correspond to the end of September and the beginning of October. Rekt Capital stated that Bitcoin could enter an upward phase again during this period.
Current Bitcoin Status
At the time of writing, Bitcoin is trading at $60,592 and has gained 4.49% in the last 24 hours. This is considered a development that supports the analyst’s predictions.
Based on historical data, Rekt Capital claims that Bitcoin could break out of its current recovery range and enter a parabolic rally. The analyst stated that such a rise could take Bitcoin to new highs.
Rekt Capital suggests that October could be a strong month for Bitcoin. Double-digit increases seen in past halving years are creating similar expectations for this year. However, it is important for investors to be cautious with such predictions and closely monitor market conditions.
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.
