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Here’s why Bitcoin might give you one last chance to get under $20,000

Phillip Bryant

ByPhillip Bryant

Sep 30, 2023

In light of the impending U.S. government shutdown scheduled for October 1, it is noteworthy that Bitcoin, a decentralized digital currency, has experienced a notable surge in value. The price of Bitcoin has ascended to an impressive $27,000, providing a sense of respite for those closely monitoring the cryptocurrency market.

According to confident market analysts, there is a prevailing belief that the price of BTC can experience a significant surge, reaching a noteworthy threshold of $30,000 and potentially surpassing it. This projected scenario is contingent upon the occurrence of a U.S. government shutdown.

Opinion of a Reputable Analyst: Don’t Miss an Important Opportunity

According to the esteemed crypto analyst Rekt Capital, it has been observed that the forthcoming 140-day period leading up to the Bitcoin halving event holds immense significance. During this critical juncture, Bitcoin may offer a final opportunity to acquire the digital asset at a price below $20,000.

Based on extensive analysis of historical trends and patterns, it becomes evident that the forthcoming 140-day period holds immense significance in implementing a dollar-cost-averaging strategy. This strategic approach assumes even greater importance when considering the imminent post-halving parabolic rally anticipated within the market.

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According to the expert’s analysis, in the event of a potential retracement in the value of Bitcoin, it is highly probable that such an occurrence would manifest within the specific timeframe of 140 days, as stated by the individual above.

Bitcoin (BTC)
 
From a different perspective…
 
The upcoming 140 days might be the final chance to purchase at low or even sub-$20,000 levels for $BTC. #Crypto #Bitcoin

— Rekt Capital

Despite the forthcoming halving event, it is the conviction of the individual in question that prospective investors may find themselves needing more opportunities to capitalize on market downturns. Considering the current market conditions, it is worth contemplating the potential outcomes of purchasing Bitcoin at its present prices.

There exists a possibility that Bitcoin may experience a further decline in value. However, an alternative perspective emerges when contemplating acquiring Bitcoin at the same price after the Halving event. In this scenario, it becomes increasingly probable that Bitcoin would exhibit a substantial upward trajectory, leading to potentially significant gains.

A Parabolic Bull Run Is Expected for Bitcoin After the Halving of the Block Size

According to Rekt Capital, investors should capitalize on the potential downside in the forthcoming months. By strategically aligning their resources and adopting a proactive approach, they could establish a robust foundation that would enable them to capitalize on the upcoming 500-day period characterized by a significant and sustained upward trajectory following the halving event.

According to the analysis provided by Rekt Capital, it has been determined that the occurrence of Bitcoin Halving is projected to occur in April 2024. The potential culmination of the forthcoming Bull Market may manifest itself within a time frame spanning approximately 518 to 546 days after the Halving event.

Based on the available data and market trends, it is plausible to consider the potential for Bitcoin to reach its zenith during the period encompassing mid-September 2025 or mid-October 2025. These temporal milestones hold significance within Bitcoin’s trajectory, as they represent potential junctures where the cryptocurrency may experience heightened levels of value appreciation. However, it is essential to note that the future behavior of Bitcoin remains.

Throughout the annals of time, October has consistently emerged as a pivotal period for the cryptocurrency known as Bitcoin. Over the past decade, this particular month has assumed a position of utmost significance, bearing witness to numerous transformative events and developments within the realm of Bitcoin.

Historically, the price of BTC has exhibited a notable tendency to undergo a robust resurgence during October, extending its momentum as we progress deeper into the fourth quarter. For the past three years, October has consistently emerged as a notable period of exceptional performance for Bitcoin.

This recurring phenomenon has been marked by a positive trajectory that often extends into the subsequent year’s initial quarter. However, it is essential to acknowledge that the current state of the cryptocurrency landscape brings forth a series of unique and noteworthy obstacles, as highlighted by the esteemed specialist.

Phillip Bryant

Phillip Bryant

Phillip Bryant, an esteemed writer in the financial field, imparts his extensive knowledge of currency markets to the readers of Main Crypto News. With a wealth of experience in international finance and a keen sense of market trends, Bryant offers timely and perceptive analysis of foreign exchange, keeping readers well-informed.

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