Bitcoin's price has risen above $27,000 as a result of the impending US government shutdown on October 1. Some market analysts say that if the US government shutdown occurs, the Bitcoin price will rise to $30,000 or higher.
However, famous cryptocurrency analyst Rekt Capital stated that the next 140 days leading up to Bitcoin's halving will be critical, and that Bitcoin could give the last-ever opportunity to stockpile under $20,000.
According to historical data, the next 140 days will be important for implementing a dollar-cost-averaging strategy, particularly in light of the probable post-halving parabolic rally. If Bitcoin undergoes a regression, it is most likely to happen during the next 140 days, he noted.
However, he believes that after halving, investors would no longer be able to buy dips. "Buy at current prices now and there's a chance Bitcoin could still go lower But buy Bitcoin at the same price just after the Halving and there's a strong likelihood that Bitcoin would go much higher," he said.
Bitcoin To Be On A Parabolic Bull Run After Halving
Rekt Capital noted that at this point, investors should take advantage of any potential decline in the following months. This would enable them position themselves well for the 500-day parabolic upswing following the halving.
According to Rekt Capital, Bitcoin will be halved in April 2024 based on historical tendencies. The next Bull Market top is possible 518-546 days following the Halving. Bitcoin could reach its peak in mid-September or mid-October 2025.
Over the last decade, October has been a pivotal month for Bitcoin. The Bitcoin price has often staged a robust recovery in October and into Q4. For the past three years, October has consistently been Bitcoin's best-performing month, and this tendency has frequently carried into the first quarter of the following year. Nonetheless, the expert observes that this year's bitcoin ecosystem poses a unique set of obstacles.