TL;DR
- Bitcoin could experience a significant rally in the coming weeks, according to analysts.
- The re-accumulation range and post-halving synchronization are close to being reached.
- October has historically been a strong month for BTC, with average monthly returns of +22.9%.
The Bitcoin market has shown notable fluctuations recently, with its price hovering around $59,000 after failing to surpass $61,000.
Despite this behavior, several experts remain confident in the potential for a significant rally for the digital asset in the coming weeks.
Among them, the well-known analyst Rekt Capital has indicated that Bitcoin could be preparing for a significant rally, highlighting the resilience of the crypto asset in the face of the current negative market conditions.
Rekt Capital points out that Bitcoin is close to reclaiming its re-accumulation range and synchronizing with the price patterns observed after previous halving events.
These historical cycles suggest that BTC could experience a breakout in the coming weeks.
Additionally, historical data reveals that Bitcoin tends to reach its peak between 150 and 160 days after the halving, indicating that by the end of September 2024, we could see a considerable price increase.
Although September has historically shown modest performance, with a maximum recorded of +6% and an average performance of -4.48%, October is traditionally a much more favorable month for Bitcoin, with average historical returns of +22.9%.
This suggests that while BTC may consolidate a bit more during September, conditions will likely be ripe for a strong upward movement in October, a month that has historically been positive for the cryptocurrency.
When could we see a major rally on Bitcoin?
In addition to Rekt Capital, analyst Mags has highlighted three key buying points before Bitcoin experiences a parabolic rise.
The first is usually near the market bottom, the second is a few months before the halving, and the last is right after the halving event.
According to this expert, we are in a crucial moment, where strategic accumulation could be key for investors looking to take advantage of buying opportunities before the digital asset sees a significant price increase.
Mags warns that this could be the last opportunity to acquire Bitcoin at relatively low prices before its price skyrockets in the coming months.
With the synchronization of post-halving patterns and the historical positive returns in October, analysts maintain an optimistic outlook for the near future of Bitcoin.
Although the market has faced recent volatility, the expectation of an imminent rally continues to grow within the community.
The coming months could be decisive for Bitcoin, and those who strategically position themselves in the market could see significant gains as the crypto asset resumes its upward trend.
