In a surprising turn of events, Bitcoin has surged to an impressive $27,000 as the impending U.S. government shutdown on October 1 looms. Market analysts speculate that if the shutdown does occur, BTC’s price could soar even higher, potentially breaching the $30,000 mark.
Renowned crypto analyst Rekt Capital has highlighted the next 140 days leading up to the Bitcoin halving event as a pivotal period. According to him, this window could represent the final opportunity to accumulate BTC below the $20,000 threshold. Drawing from historical data, Rekt Capital emphasizes the significance of implementing a dollar-cost-averaging strategy during this critical timeframe, anticipating a potential post-halving parabolic rally. If a retracement were to occur, it is most likely within these 140 days.
Navigating Bitcoin’s Post-Halving Landscape
Rekt Capital issues caution, emphasizing that potential investors might find it increasingly challenging to capitalize on market downturns once the halving event occurs. He strongly recommends taking action now despite Bitcoin possibly experiencing further short-term dips. The allure of significant post-halving profits far surpasses the associated risks, making the current juncture a strategically opportune time to enter the market.
According to Rekt Capital, positioning oneself strategically for the forthcoming 500 days of parabolic uptrend post-halving is paramount. Based on historical trends, the Bitcoin Halving is slated for April 2024, with the next Bull Market peak projected between 518-546 days post-halving. This suggests a potential peak for Bitcoin in either mid-September or mid-October of 2025.
October has historically held a significant sway over Bitcoin’s performance. The cryptocurrency typically experiences a robust recovery this month, extending its momentum into the fourth quarter. Notably, October has stood out as BTC’s strongest month for the past three years, often setting the tone for a prosperous first quarter in the subsequent year. However, this year’s crypto landscape is marked by unique challenges, as pointed out by experts.
As the clock ticks down to the government shutdown, the crypto community watches BTC closely, eager to witness if it can uphold its bullish stride and possibly initiate an unprecedented surge, breaching the $30,000 milestone.