Bitcoin Price Predicted Breakthrough Based on Historical Patterns
2024-09-24
Bittime - Bitcoin is predicted to experience a price spike in the near future. According to Rekt Capital, there are historical patterns that suggest that Bitcoin price is on the verge of a breakthrough or price breakthrough.
This pattern is based on Bitcoin's historical cycles that occurred after the Bitcoin halving. Read this article to find out more!
Bitcoin Price Post Halving
Source: x.com/rektcapital
Bitcoin Halving is an important moment for Bitcoin, where the amount of reward received by Bitcoin miners is cut in half. This halving is done to maintain scarcity and control inflation.
According to Rekt Capital, based on historical cycles, Bitcoin usually experiences a price spike between 154 to 161 days after the Bitcoin halving. Bitcoin's last halving occurred on April 20, 2024, and is currently the 157th day since the event.
Based on this pattern, Bitcoin is in a time that has the potential to experience a significant price breakthrough. If this pattern repeats itself, then in the coming days, Bitcoin may experience an increase in price.
Read Also: Bitcoin Prices Strengthen in September, Optimistic in October?
History of Bitcoin Price Post Halving
Source: x.com/rektcapital
Rekt Capital also points out historical Bitcoin halvings in previous years. In 2016, Bitcoin experienced a price spike exactly 154 days after the halving.
Likewise in 2020, a price spike occurred 161 days after the halving. This shows that Bitcoin price movements after the halving have a repeating pattern, although they do not always occur in the same way.
Although history does not always repeat itself in identical ways, the patterns seen so far suggest that Bitcoin may experience a breakthrough in the near future.
Bitcoin Price in September 2024
Apart from paying attention to historical patterns after the Bitcoin halving, Rekt Capital also observed Bitcoin's performance in September 2024.
Usually, September is a fairly sluggish month for Bitcoin, with prices tending to stagnate or even decline.
However, 2024 is quite different. On September 24, 2024, Bitcoin managed to record an increase of around 9% throughout the month of September, making it one of the best months for Bitcoin.
Read Also: Bitcoin Price Predicted to Reach New ATH Later This Year
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