Wed Sep 25 07:04:51 UTC 2024: ## Bitcoin on the Verge of Breakout, Says Popular Analyst
**New York, NY** – A popular crypto analyst, known as Rekt Capital, is predicting a potential breakout for Bitcoin (BTC), citing historical trends and technical indicators.
According to Rekt Capital, Bitcoin has historically broken out from its re-accumulation range between 154 and 161 days after its halvings. As it’s currently 157 days after the last halving, the analyst suggests that a breakout is imminent.
“History suggests it is ‘Breakout Time’ for Bitcoin,” Rekt Capital wrote to his 501,400 followers on X.
Rekt Capital further predicts that BTC will now transition into a “Parabolic Upside phase,” based on historical patterns. This indicates a significant and rapid increase in price.
The analyst also points to standard halving cycles, which suggest that the current Bitcoin cycle is only 44.8% through the ongoing bull market. This implies there is ample room for further price growth.
Rekt Capital believes that Bitcoin has convincingly broken a series of lower highs, evidenced by its recent weekly close above $61,900. However, the analyst acknowledges that the price could pull back into the $61,300 area, confirming the breakout.
Bitcoin is currently trading at $64,539, up nearly 2% in the past 24 hours.
The analyst’s prediction has sparked renewed optimism within the crypto community. Whether Bitcoin will indeed experience a parabolic rise remains to be seen, but Rekt Capital’s insights are sure to fuel further discussion and speculation about the future of the world’s largest cryptocurrency.
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