Rally

Cryptocurrency

Rekt

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-rally-in-october/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Rally in October</a><br></p>
<p style="text-align: justify">Cryptocurrency analyst Rekt Capital suggests that Bitcoin may enter a bullish trend in the coming weeks. Based on Bitcoin’s performance during previous halving years, the analyst anticipates a strong rally in October. This year, Bitcoin experienced a halving event, which cut miner rewards in half.</p> 
<h2 id="october-expectations">October Expectations</h2> 
<p style="text-align: justify">Rekt Capital expressed an expectation of double-digit gains in October. The analyst noted that Bitcoin rose by 14% and 27% in 2016 and 2020, respectively, and believes a similar increase could occur this year as well. A 14% rise could push Bitcoin’s value to approximately $67,500.</p> 
<h2 id="historical-data-and-future-predictions">Historical Data and Future Predictions</h2> 
<p style="text-align: justify">The analyst mentioned that historically, Bitcoin tends to enter a bullish phase about 160 days after halving events. This timeframe aligns with the end of September and the beginning of October. Rekt Capital indicated that Bitcoin might enter a new rally phase during this period.</p> 
<h2 id="current-bitcoin-status">Current Bitcoin Status</h2> 
<p style="text-align: justify">At the time of writing, Bitcoin is trading at $60,592, having gained 4.49% in the last 24 hours. This development supports the analyst’s forecasts.</p> 
<p style="text-align: justify">Rekt Capital claims that based on historical data, Bitcoin could break out of its current recovery range and transition to a parabolic rise. The analyst believes such an uptrend could elevate Bitcoin to new highs.</p> 
<p style="text-align: justify">Rekt Capital indicates that October may be a strong month for Bitcoin. The past double-digit increases during halving years create a similar expectation for this year. Nonetheless, investors should approach such predictions with caution and closely monitor market conditions.</p> 
<p>The post <a href="https://en.coin-turk.com/analyst-predicts-bitcoins-potential-rally-in-october/" data-wpel-link="internal">Analyst Predicts Bitcoin’s Potential Rally in October</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Analyst Predicts Bitcoin’s Potential Rally in October

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