Bitcoin

Bitcoin Could Experience One Last Correction Under $20,000

8 months ago
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Amid the upcoming U.S. government shutdown on October 1, Bitcoin has given a relief rally with its price shooting to $27,000. Some market analysts believe that the BTC price can rally to $30,000 and above if the US government shutdown begins.

But popular crypto analyst Rekt Capital noted that the next 140 days up to Bitcoin halving would be crucial and that Bitcoin can present the last-ever opportunity to accumulate under $20,000.

Historical data indicates that the next 140 days will be a critical window for implementing a dollar-cost-averaging strategy, especially in anticipation of the potential post-halving parabolic rally. If Bitcoin experiences a retracement, it is most likely to occur within this 140-day timeframe, he added.

However, he believes that after halving, investors won’t get a chance to buy the dips. “Buy at current prices now and there’s a chance Bitcoin could still go lower But buy Bitcoin at the same price just after the Halving and there’s a strong likelihood that Bitcoin would go much higher,” he noted.

Bitcoin To Be On A Parabolic Bull Run After Halving

Rekt Capital added that at this stage, investors should make the most of possible downside in the coming months. This would help them position strongly for the 500 days of parabolic uptrend after the halving.

Based on the historical trends, Rekt Capital explained that Bitcoin Halving is in April 2024. Next Bull Market peak could occur 518-546 days after the Halving. Bitcoin could peak in mid-September 2025 or mid-October 2025.

October has been a crucial month for Bitcoin over the past decade. The BTC price has usually staged a strong recovery in October and moving further into Q4. For the last three years, October has consistently stood out as Bitcoin’s top-performing month, and this positive trend has frequently continued into the following year’s first quarter. Nevertheless, this year’s cryptocurrency landscape presents a distinct set of challenges, as noted by the expert.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source: https://coingape.com/heres-why-bitcoin-can-give-one-last-opportunity-to-accumulate-under-20000/