Top Analyst Predicts Bitcoin Trends for October, November, and December

Bitcoin is down 9 % this month. The massive query is whether or not that is only a regular worth motion or whether or not one thing else is happening. This is what analyst Rekt Capital saysthis sort of downward pattern shouldn’t be uncommon for September.

Traditionally, Bitcoin has seen comparable declines in September over time, with declines starting from 5% to 12% in 2017, 2020, 2021, and even 2018. So this month’s decline is nothing particular.

What can occur in October, November and December?

The months after September have historically been robust for Bitcoin, particularly through the “halving” years (the years when Bitcoin’s mining rewards are halved, usually rising its worth). Let’s take a look at the final two half-years: 2016 and 2020:

In 2016, after a nasty month of September, Bitcoin posted a 14% achieve in October, a 5% achieve in November and an enormous bounce of 30% in December. The analyst stated the positive aspects in 2020 have been even greater, with Bitcoin rising 27% in October, 43% in November and a whopping 47% in December.

Since 2024 can be a half-life 12 months, we may see the same sample. If Bitcoin’s September decline stays within the single digits (because it has in current half-years), it may imply that the worth will begin to rise in October and proceed to rise by way of November and December.

A 14% enhance in October (as in 2016) may push Bitcoin’s worth again above a key $66,000 degree. This degree was a robust assist level earlier this 12 months, and an increase above it may sign the beginning of a robust uptrend. If the achieve is smaller, say 5%, it is probably not sufficient to interrupt the resistance ranges. However a 30% enhance (as in December 2016) may push Bitcoin nearer to $70,000, near all-time highs.