Bitcoin hasn’t managed to exceed the $61,000 mark again, causing it to dip towards $59,000, sparking discussions about its immediate future. However, despite the bearish market conditions observed lately, many analysts remain optimistic about Bitcoin, forecasting a significant upswing for this digital currency in the near future.
Upcoming Weeks Could Be Great For Bitcoin
In light of the market’s ongoing volatility, Bitcoin could potentially experience a significant surge, according to renowned market analyst and trader Rekt Capital. His prediction suggests an exhilarating phase for the cryptocurrency, highlighting its robustness even amid challenging market circumstances.
According to the expert’s analysis, Bitcoin could potentially break free from its current holding pattern, which might lead to a significant price surge due to robust buying patterns and past price patterns.
Based on what a market expert says, Bitcoin is getting close to reaching the reaccumulation phase and aligning with post-halving price trends. Moreover, past data suggests that Bitcoin might experience a breakout within the upcoming weeks.
Based on their assessment, Rekt Capital feels optimistic about Bitcoin’s ability to surge, anticipating that the upcoming weeks could be particularly thrilling for this digital currency as the market regains its stability.
Rekt Capital emphasized a prediction he made earlier, highlighting the trend of Bitcoin’s performance post-Halving. In his recent post, he suggested that, based on past trends, Bitcoin usually hits its peak around 150 to 160 days after the Halving event. This implies that towards late September 2024, the cryptocurrency could potentially surpass its current accumulation phase.
He also pointed out that the greatest previous increase in September was only 6%, while the typical monthly return for September is -4.48%. Interestingly, compared to October, the average historical monthly returns are +22.9%, indicating a potential for positive Bitcoin movements next month based on its past trends.
According to Rekt Capital’s prediction, Bitcoin might need a brief period of consolidation similar to last September before it can potentially break out in October, given that October is traditionally a robust month for the asset.
3 Buying Points Before A Major Rally
As excitement builds within the crypto community about a potential significant Bitcoin rally, renowned analyst Mags highlights various buying chances for both investors and traders.
According to the expert’s analysis based on Bitcoin’s historical price patterns, there are typically three key moments to buy BTC before it undergoes a significant surge or parabolic rise. One of these opportunities usually arises near market bottoms, another occurs a few months before the halving event, and a third is immediately following the halving.
So, Mags advises investors not to miss out on the opportunity, suggesting that the current period might be the last time they can buy Bitcoin at relatively low prices before it experiences a significant increase or ‘parabolic rise’ in the upcoming months.
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2024-09-16 12:41