- BTC experienced a significant drop when it fell below $28,650 starting from mid-August. The Federal Open Market Committee (FOMC) meeting scheduled for September 20 will be important for interest rate decisions.
- According to a recent analysis, possible scenarios have been outlined for Bitcoin’s (BTC) macro potential for a lower bottom, shedding light on possible price levels.
- As the halving event in Bitcoin approaches, a renowned analyst has shared potential scenarios by examining BTC’s halving movements.
The halving of Bitcoin and the implications it has on macro potential. Latest analysis outlines potential scenarios of BTC’s lower bottoms.
How Will Bitcoin Proceed in the Near Future
Bitcoin’s price has had a challenging month but is currently trading at $26,760 with a 0.80% increase. BTC experienced a significant drop when it fell below $28,650 starting from mid-August. The Federal Open Market Committee (FOMC) meeting scheduled for September 20 will be important for interest rate decisions.
According to the latest analysis by Rekt Capital, potential scenarios have been outlined for Bitcoin’s macro potential for a lower bottom, shedding light on possible price levels:
October Scenario: If Bitcoin experiences a macro lower bottom in October, it could mean a drop in BTC’s value to approximately $18,960.
December Scenario: If a lower bottom occurs in December, BTC could drop to approximately $19,500.
April 2024 Scenario: If a lower bottom occurs in April 2024, Bitcoin could return to around $20,789.
Past movements can provide clues about the future
In the past, at the same point in the cycle, Bitcoin made significant moves in 2015 and then continued to decline in 2019. Looking back, it suggests that important weeks are ahead for Bitcoin. This will indicate which direction Bitcoin is likely to take in the near future and what the main trend will be until the 2024 Halving.
At the exact same point in the cycle, BTC saw an uptrend in 2015 and continued to decline in 2019. History shows that Bitcoin is now entering crucial weeks. This is because Bitcoin will soon confirm its direction and main trend towards the 2024 Halving.
