A renowned cryptocurrency analyst, known as Rekt Capital, who accurately predicted the Bitcoin correction earlier this year, is now forecasting a potential bullish trend for BTC in the upcoming weeks. With a subscriber base of 87,600 on YouTube, Rekt Capital suggests that Bitcoin could see significant gains in October based on its historical performance during halving years.
Bitcoin experienced a halving event earlier this year, resulting in a reduction of miner rewards. According to Rekt Capital, this October is likely to witness an upward trajectory for Bitcoin, as historical data indicates a strong performance during this month. The analyst states, “We just simply tend to see a strong October across time… It all just comes down to the fact that we’re going to have a strong October.”
In terms of potential gains for Bitcoin in the coming month, Rekt Capital anticipates a double-digit increase. Referring to the returns seen in previous halving years, the analyst predicts a possible 14% to 27% upside for Bitcoin in October. This could potentially push Bitcoin’s price to $67,500 or even new all-time highs.
Moreover, Rekt Capital suggests that Bitcoin may be on the verge of entering a more significant bullish phase of its cycle in the weeks ahead. By analyzing historical patterns, the analyst predicts a breakout from the current re-accumulation range between $55,000 and $73,000. This breakout could occur around late September or early October, leading to a potential parabolic phase for Bitcoin if history repeats itself.
At the time of writing, Bitcoin is trading at $60,592, reflecting a 4.49% increase in the past day. The cryptocurrency market remains dynamic and unpredictable, but Rekt Capital’s analysis provides valuable insights for investors and traders looking to navigate the volatile landscape of digital assets.
In conclusion, Rekt Capital’s optimistic outlook on Bitcoin’s potential bullish momentum in October serves as a beacon of hope for crypto enthusiasts. As the market continues to evolve, staying informed and following expert analysis like Rekt Capital’s can help individuals make informed decisions in their cryptocurrency investments.