Cryptocurrency analyst Rekt Capital suggests that Bitcoin 
$78,815 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.
October Expectations
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.
Historical Data and Future Predictions
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.
Current Bitcoin Status
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.
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.
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.
