**Crypto News Analysis**
**Well-Known Analyst Shares Bullish Outlook for Bitcoin (BTC): “The Moment Has Arrived, Rally is Imminent!”**
In an exciting turn for cryptocurrency enthusiasts, an established analyst has made a bold proclamation regarding Bitcoin’s future. Citing historical trends, the analyst suggests that Bitcoin is on the verge of a significant upward movement.
Elif Azra Güven
24.09.2024 – 09:42
**Update:** Just now
The recent surge in Bitcoin and altcoins, particularly following a cut in the Federal Reserve’s interest rates, has sparked enthusiasm among investors, heightening expectations of a rally.
Rekt Capital, a prominent figure in the crypto analysis community, noted that Bitcoin has exited a reaccumulation phase, which typically lasts between 154 and 161 days after a halving event. With 157 days having passed since the most recent halving in April, Rekt Capital believes that a breakout is imminent.
Drawing from historical patterns, the analyst highlighted that Bitcoin broke out of its accumulation phase 154 days after the 2016 halving and 161 days after the 2020 halving. “Historically, Bitcoin has broken out of the reaccumulation range 154-161 days post-halving. With 157 days since the last halving, the data indicates that it is time for Bitcoin to make its move.”
According to the analyst’s historical insights, Bitcoin is poised to breach the accumulation range and initiate an upward movement within the coming days, likely this week. Since reaching its all-time high (ATH) in March, Bitcoin has seen a downturn. To set a new record, BTC must surpass its previous peak of $73,700, a target that is currently just 14% away.
#BTC
Historically, Bitcoin has broken out from its ReAccumulation Range 154-161 days after the Halving.
It has been 157 days since the Halving.
History indicates it is “Breakout Time” for Bitcoin.
$BTC
#Crypto
#Bitcoin
*This is not investment advice.*
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