"Movement is starting in Bitcoin!" critical comment from famous analyst

Rekt Capital, known for its cryptocurrency analyses, drew attention with its Bitcoin (BTC) commentary.

According to Rekt Capital, if historical cycle patterns repeat, there could be an explosion in cryptocurrencies, including Bitcoin. The famous analyst, in a post on September 24th, discussed the price structure of Bitcoin after the halving in past cycles. Usually, there is an upward explosion after this period, which corresponds to a range of 154 to 161 days. Rekt Capital expressed his thoughts as follows:

“The BTC halving in this cycle occurred 157 days ago, on April 20th, so we are in a critical time period. It’s time for a breakthrough for Bitcoin.”

What do past data show for Bitcoin (BTC)?

In the 2016 halving, BTC broke out 154 days later, while in the 2020 halving, it broke out 161 days later. The analyst noted that history does not always repeat itself, but if this cycle is the same, the following could be possible:

Bitcoin needs to break out of its accumulation zone in the next few days.

Rekt Capital noted that September generally tends to show a downward trend for Bitcoin, comparing it with periodic price movements, while the fourth quarter generally tends to be upward.

BTC has recorded an approximately 9% increase this month, marking its second-best performance, surpassing the 6% increase recorded in September 2016. Additionally, positive price movements were observed for Bitcoin on nine out of eleven Octobers, with gains of 48% and 40% in bull market months such as October 2017 and 2021, respectively.

This article does not contain investment advice or recommendation. Every investment and trading move involves risk and readers should conduct their own research when making a decision.