Following the recent FED interest rate cut, Bitcoin and the broader altcoin market have seen a surge, fueling expectations of a significant rally. An experienced analyst has shared promising insights, suggesting that if history repeats itself, Bitcoin could be on the verge of a substantial price breakout.
Bitcoin’s Historical Patterns Indicate a Rally
The well-known analyst Rekt Capital has highlighted that historically, Bitcoin has exited its re-accumulation range between 154 and 161 days after a halving event. According to the analyst, it has now been 157 days since the most recent halving in April, signaling that a major upward breakout could be imminent.
Historically, Bitcoin has broken out from its ReAccumulation Range 154-161 days after the Halving
It is 157 days after the Halving now
History suggests it is “Breakout Time” for Bitcoin$BTC #Crypto #Bitcoin https://t.co/Ydqlu4JKSf pic.twitter.com/CwRvUYnHW0
— Rekt Capital (@rektcapital) September 23, 2024
Referring to historical data, the analyst pointed out that after Bitcoin’s 2016 halving, it exited the re-accumulation phase 154 days later, while in 2020, it took 161 days. Based on this, the analyst suggests that Bitcoin is now primed for a significant upward move in the coming days.
The Timing is Crucial for Bitcoin
The analyst’s prediction aligns with Bitcoin’s historical behavior, which has shown that major rallies typically occur after the re-accumulation period. With only 14% separating Bitcoin from breaking its previous all-time high of $73,700, investors are eagerly watching to see if the cryptocurrency will reach new heights.
