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According to an analyst, Bitcoin may be on the cusp of a major breakout based on historical post-halving trends. Bitcoin’s price movement typically aligns with reaccumulation phases, and it’s now 157 days since the last halving.
An analyst has speculated that a breakout in the bitcoin and cryptocurrency markets may be imminent if past cycle patterns are any indication.
Historical Patterns Signal Potential Bitcoin Breakout
Bitcoin has traditionally broken out from its reaccumulation zone between 154 and 161 days following the halving, according to an analysis by Rekt Capital in a post on Sept. 24 X, as reported by Cointelegraph.
According to him, we are currently within the breakout time window, as the Bitcoin halving that happened on April 20, 157 days ago, has already taken place.
Bitcoin's Post-Halving Price Movement Aligns with Past Cycles
In the year of 2016 halving, Bitcoin emerged from the range-bound accumulation phase 154 days later, whereas in 2020, it emerged 161 days later.
The analyst stressed that past events do not necessarily replicate themselves in the present; rather, in this particular cycle,
“Then Bitcoin should be breaking out from its re-accumulation range in the next handful of days, this week.”
Fourth Quarter Historically Boosts Bitcoin Performance
The expert has also looked into periodic returns and found that September is typically a bad month for Bitcoin, while the fourth quarter is when things improve.
Nevertheless, he stated on September 21:
With gains of around 9% in September, BTC surpassed its second-best in September of 2016, when it gained 6%.
Bitcoin's October Gains: A Positive Trend in Bull Markets
Furthermore, Bitcoin has had positive returns for nine out of the last eleven October. Bull market months, including October 2017 and 2021, saw gains of 48% and 40%, respectively.
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