Analyst: Historical data indicates Bitcoin may be on the verge of a "breakthrough opportunity"
The analyst from Rekt Capital suggests that if historical cycle patterns repeat, Bitcoin may be on the verge of a breakthrough. He points out that BTC typically breaks through and accumulates again within 154 to 161 days after halving. Currently, it has been 157 days since the halving event on April 20th, which is within the range of breakout time. Analysis shows that BTC has risen about 9% this month, surpassing its performance of 6% in September 2016.
The analyst notes that history does not always repeat itself in a copy-paste manner, but if it repeats in this cycle: "Bitcoin should break through its re-accumulation zone in the next few days or this week." In addition, nine out of the past eleven Octobers have yielded positive returns with significant increases seen in both years -2017 and -2021.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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