{"id":94497,"date":"2024-09-24T02:37:29","date_gmt":"2024-09-24T06:37:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=94497"},"modified":"2024-09-24T02:37:33","modified_gmt":"2024-09-24T06:37:33","slug":"rekt-capital-says-its-btc-breakout-time","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/rekt-capital-says-its-btc-breakout-time\/","title":{"rendered":"Rekt Capital Says History Indicates it’s BTC Breakout Time"},"content":{"rendered":"\n

Rekt Capital has suggested that the Bitcoin and crypto markets<\/a> may be on the brink of a breakout if historical cycle patterns are replicated.<\/p>\n\n\n\n

\"Rekt
Rekt Capital Says History Indicates it's BTC Breakout Time<\/em><\/figcaption><\/figure>\n\n\n\n

On September 24, analyst Rekt Capital\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> noted in a post on X that Bitcoin has historically emerged from its reaccumulation range between 154 and 161 days following the halving in previous market cycles.<\/p>\n\n\n\n

Rekt Capital Suggests it's BTC Breakout Time<\/h3>\n\n\n\n

He stated that the BTC halving event of this cycle occurred on April 20, 157 days ago, and that we are currently within the breakout time frame. He then added:<\/p>\n\n\n\n

\n

\u201cHistory suggests it is \u2018breakout time\u2019 for Bitcoin.\u201d<\/p>\n\n\n\n

<\/p>\n<\/blockquote>\n\n\n\n

\n

#BTC<\/use><\/svg><\/span><\/a>

Historically, Bitcoin has broken out from its ReAccumulation Range 154-161 days after the Halving

It is 157 days after the Halving now

History suggests it is "Breakout Time" for Bitcoin$BTC<\/use><\/svg><\/span><\/a> #Crypto<\/use><\/svg><\/span><\/a> #Bitcoin<\/use><\/svg><\/span><\/a> https:\/\/t.co\/Ydqlu4JKSf<\/use><\/svg><\/span><\/a> pic.twitter.com\/CwRvUYnHW0<\/use><\/svg><\/span><\/a><\/p>— Rekt Capital (@rektcapital) September 23, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

In the 2016 halving year, BTC emerged from the range-bound accumulation phase 154 days following the halving, whereas, in 2020, it did so 161 days following the halving of that year.<\/p>\n\n\n\n

Rekt Capital noted that history does not always repeat itself in a copy-paste manner; however, if it were to do so in this cycle:<\/p>\n\n\n\n

\n

\u201cThen Bitcoin should be breaking out from its re-accumulation range in the next handful of days, this week.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Additionally, Rekt Capital has compared periodic returns, noting that Bitcoin typically experiences negative returns in September and positive returns in the fourth quarter.<\/p>\n\n\n\n

Conversely, on September 21, he declared, “Who would have anticipated that Bitcoin would generate its most significant average return for September in this cycle?”<\/p>\n\n\n\n

This month, BTC generated approximately 9% in revenue, surpassing its second-best September of 2016, which generated 6%.<\/p>\n\n\n\n

Furthermore, Bitcoin has experienced positive returns in nine of the last eleven October, with bull market months such as October 2017 and 2021 experiencing even more significant gains of 48% and 40%, respectively.<\/p>\n\n\n\n

\n

#BTC<\/use><\/svg><\/span><\/a>

Who would've thought Bitcoin would print its highest-ever average return for the month of September in this cycle

Bitcoin is currently up +6.87% this September whereas 2016 is second-best with +6.04%$BTC<\/use><\/svg><\/span><\/a> #Crypto<\/use><\/svg><\/span><\/a> #Bitcoin<\/use><\/svg><\/span><\/a> pic.twitter.com\/c7IzH9vdR7<\/use><\/svg><\/span><\/a><\/p>— Rekt Capital (@rektcapital) September 21, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

In order to enter a new price discovery range, Bitcoin must surpass its previous peak of $73,738, although it has been trading sideways for the past six months. It is only 14.6% away from that threshold.<\/p>\n\n\n\n

CoinGecko reports that the price of Bitcoin (BTC) has decreased by 1.7% in the past 24 hours, currently at $62,863. At the time of writing. On September 23, it reached a monthly high of $65,600.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Rekt Capital has suggested that the Bitcoin and crypto markets may be on the brink of a breakout if historical cycle patterns are replicated. On September 24, analyst Rekt Capital noted in a post on X that Bitcoin has historically emerged from its reaccumulation range between 154 and 161 days following the halving in previous […]<\/p>\n","protected":false},"author":59,"featured_media":94136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,21992],"class_list":["post-94497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-rekt-capital"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/bitcoin-gold.avif","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/94497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=94497"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/94497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/94136"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=94497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=94497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=94497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}