Cryptocurrency analyst Rekt Capital earlier this year $60,045Having correctly predicted the correction in , he believes that Bitcoin could be on the rise in the coming weeks. Rekt Capital told his 87,600 subscribers on YouTube that Bitcoin has the potential to rally in October based on its performance in past halving years. Earlier this year, Bitcoin experienced a halving event where miner rewards were cut in half.
Past Halving Years and October Performance
Rekt Capital stated that based on historical data, Bitcoin usually performs strongly in October and we may see a similar trend this year. The analyst predicts that Bitcoin may show a double-digit increase in October. Recalling that the halving years of 2016 and 2020 saw increases of 14% and 27% respectively, he stated that Bitcoin may reach new heights with a similar increase this year.
Uptrend and Potential Earnings
According to Rekt Capital, Bitcoin could enter a more pronounced bullish phase in the coming weeks. Historical data shows that Bitcoin tends to break out of the reaccumulation range approximately 160 days after the halving. In this sense, the period between late September and early October could be a critical time period for Bitcoin to enter a parabolic phase.
Bitcoin is currently trading at $60,592 and is up 4.49% in the last 24 hours. This could indicate that Bitcoin is starting to enter the expected post-halving uptrend.
According to analyst estimates, Bitcoin could see a 14% to 27% increase in value in October. These potential increases could mean that Bitcoin could reach new all-time highs. However, these estimates are based on historical data and are therefore not definitive.
Bitcoin’s future performance should be monitored carefully as it can be affected by many factors. Rekt Capital’s reviews can provide investors with insight into Bitcoin’s short-term movements. However, given the volatile nature of cryptocurrency markets, it is important to conduct a thorough analysis when making investment decisions.
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.
