‘We’re Going To Have a Strong October’: Analyst Says Bitcoin Primed To Rally Next Month – Here Are His Targets

A cryptocurrency analyst who precisely known as the Bitcoin correction earlier this yr now believes BTC may flip bullish within the coming weeks.

Pseudonymous crypto strategist Rekt Capital tells In line with its 87,600 YouTube subscribers, Bitcoin seems poised for the October rallies, primarily based on the flagship crypto asset’s historical past through the halving years.

Earlier this yr, Bitcoin witnessed one other halving, when rewards for BTC miners have been halved.

Says Rekt Capital,

“So we can’t actually see these sorts of downsides come October. In truth, we are going to possible see an upward pattern in October. We merely are inclined to see a powerful October over time… All of it comes all the way down to the truth that we’re going to have a powerful October.”

On the potential positive aspects Bitcoin may make subsequent month, the pseudonymous analyst says:

“I count on us to have a double-digit upside month… We are inclined to see double-digit upside within the half-years – 14% and 27% in 2016 and 2020 respectively. So 14% would put us at $67,500 …

But when we have been to take a look at 2020 returns for October, 27.5%, that may truly take us to new all-time highs….

So 27%, 14%, 10% are on the decrease finish when it comes to returns for the month of October.”

Rekt Capital additionally says that Bitcoin may nonetheless be weeks away from coming into a extra vital bullish section of the cycle.

“And if we have a look at historical past, historical past suggests to us that we have a tendency to interrupt out of this reaccumulation vary [roughly between $55,000 and $73,000.] 160 days after the halving. And that brings us to very, very late September, early, early October…

It’s completely potential that we’re on the cusp of that parabolic section, if historical past does certainly repeat itself.”

Bitcoin is buying and selling at $60,592 on the time of writing, up 4.49% previously day.

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