- As the impending US government shutdown on October 1st approaches, Bitcoin
saw a relief rally, pushing its price up to $27,000.
- Rekt Capital noted that the 140 days leading up to the upcoming Bitcoin halving will be critical and could represent the last opportunity to accumulate Bitcoin below $20,000.
- Based on historical trends, Rekt Capital stated that Bitcoin’s halving is expected to occur in April 2024. The next Bull Market peak may occur 518-546 days after the halving.
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As the US government shutdown looms, there’s speculation about whether Bitcoin’s price will rise, potentially reaching $30,000.
Will the Government Shutdown Boost Prices?
During the impending US government shutdown on October 1st, Bitcoin experienced a relief rally that pushed its price to $27,000. Some market analysts believe that if the US government shutdown begins, the BTC price could surpass $30,000.
However, popular crypto analyst Rekt Capital pointed out that the 140 days leading up to the upcoming Bitcoin halving will be crucial and may represent the last opportunity to accumulate Bitcoin below $20,000.
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Historical data suggests that the next 140 days, especially with expectations of a parabolic rally after the potential halving, will be a critical window to implement a dollar-cost averaging strategy. If Bitcoin experiences a pullback, it’s likely to happen during this 140-day period, with the highest probability of occurring within this timeframe, the analyst said.
Nevertheless, after the halving, investors may not find opportunities to buy dips. The analyst stated, “Buy at current prices, and Bitcoin may still drop further, but buy Bitcoin at the same price immediately after the halving, and there’s a strong possibility that Bitcoin could go much higher.”
Bitcoin Could Make a Parabolic Bull Run After the Halving
Rekt Capital added that at this stage, investors should position themselves to take full advantage of possible dips in the coming months. This will help them position strongly for the 500-day parabolic bull run period following the halving.
Based on historical trends, Rekt Capital announced that Bitcoin’s halving is expected in April 2024. The next Bull Market peak may occur 518-546 days after the halving. Bitcoin could potentially reach its peak in mid-September or mid-October 2025.
Over the past decade, October has been an important month for Bitcoin. BTC prices have often seen a strong recovery in October and continued to advance toward the fourth quarter. In the last three years, October has consistently stood out as Bitcoin’s top-performing month, and this positive trend usually extends into the first quarter of the following year. However, this year’s cryptocurrency landscape poses a different set of challenges, according to the expert.