Bitcoin Bitcoin once again failed to break above the $61,000 price level, leading to a drop to around $59,000, sparking speculation about its short-term potential. Despite the negative market trends of the past few weeks, many analysts remain bullish on Bitcoin, predicting a significant rise for the digital asset in the coming weeks.
The coming weeks could be great for Bitcoin.
As the market continues to be volatile, Bitcoin could be poised for a major rally, as noted by market expert and popular trader Rekt Capital. expected An exciting time awaits crypto assets. His predictions show Bitcoin’s ability to withstand the deteriorating market conditions.
The expert pointed out that Bitcoin may soon emerge from the current consolidation period, paving the way for a potential significant price increase based on the strength of Accumulation trends And historical price trends.
According to the market expert, the scope for re-accumulation and re-synchronization with price patterns after the halving is very close to Bitcoin’s reach. In addition, historical data suggests that the leading cryptocurrency is expected to take off in the next few weeks.
As a result, Rekt Capital is confident in BTC’s ability to undergo a rally, and predicts that the next few weeks will be “very exciting” for the digital asset once the market starts to rally. settle once again.
Rect Capital also drew attention to its previous forecasts, stating that: BTC performance after the halving event. The post stated that based on past performance, Bitcoin often peaks between 150 and 160 days after the halving event, meaning that in late September 2024, the crypto asset could break out of its re-accumulation range.
He also noted that the largest increase recorded in September was only +6%, and the historical average monthly return for September is -4.48%. Meanwhile, compared to October, the historical average monthly return is +22.9%, suggesting that Bitcoin could see positive moves in the month given its past performance.
Although Rekt Capital expects positive weeks for Bitcoin, it highlighted that the asset may Unification “October has been a historically strong month despite everything,” he added.
3 Buy Points Before the Big Rise
With Bitcoin BTC expected to see a huge surge within the community, Mags, a well-known crypto analyst, Underlined Several buying opportunities for investors and traders.
Looking at the past price performance of crypto assets, the expert noted that Bitcoin It usually presents 3 buy points before it sees a parabolic rise. One near the market bottom, another a few months before the halving, and the last one right after the halving.
Mags urged investors to take action, noting that this could be the last chance to get BTC on the cheap before the digital asset’s value skyrockets in the coming months.
Featured image from Unsplash, chart from Tradingview.com
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