Bitcoin Price Could Rise Above $30,000 as US Government Shutdown Approaches - COINTURK NEWS
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Bitcoin Price Could Rise Above $30,000 as US Government Shutdown Approaches

2:43 pm (61 days ago)
September 30, 2023

With the impending shutdown of the US government on October 1st, Bitcoin (BTC) has breathed a sigh of relief as its price surged to $27,000. While some market analysts believe that the price of the largest cryptocurrency could reach $30,000 or even higher in the event of a government shutdown, experienced crypto analyst Rekt Capital has made a noteworthy prediction of a potential crash.

Rekt Capital: Every Bitcoin Dip is a Buying Opportunity

Well-known anonymous crypto analyst Rekt Capital expects the next 140 days leading up to the Bitcoin block reward halving to be crucial, offering a final chance to accumulate Bitcoin below $20,000.

The analyst stated, “Historical data indicates that the next 140 days will be a critical period for implementing a dollar-cost average strategy, especially with the anticipation of a potential parabolic rally after the block reward. If BTC is going to retrace, it is highly likely to happen within this 140-day timeframe.”

Rekt Capital emphasized that after the block reward halving, investors may not have the chance to buy dips anymore, stating, “Buying at current prices is a great opportunity, and Bitcoin still has the potential to see lower prices. However, it may not be possible to buy Bitcoin at these prices immediately after the block reward halving. The price will likely be much higher.”

Analyst Expects Parabolic Rally in Bitcoin After Block Reward Halving

Rekt Capital advised investors to take advantage of potential dips in the coming months, as they can yield significant returns during the subsequent 500-day parabolic uptrend after the block reward halving.

Based on historical trends, the analyst expects the next bull market peak to occur 518-546 days after the block reward halving in April 2024. According to this prediction, the largest cryptocurrency could reach its peak in mid-September or mid-October 2025.

Furthermore, October has been a significant month for Bitcoin’s price performance in the past decade. The price has typically shown strong recovery in October and continued this upward trend to complete the fourth quarter. Looking at Bitcoin’s price movement in October over the past three years, it consistently stood out and often continued to rise in the first quarter of the following year.

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