{"id":462458,"date":"2024-09-24T16:02:44","date_gmt":"2024-09-24T16:02:44","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=858738"},"modified":"2024-09-24T16:02:44","modified_gmt":"2024-09-24T16:02:44","slug":"bitcoin-exits-reaccumulation-phase-october-set-for-major-breakout-says-analyst","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/24\/bitcoin-exits-reaccumulation-phase-october-set-for-major-breakout-says-analyst\/","title":{"rendered":"Bitcoin Exits Reaccumulation Phase\u2014October Set for Major Breakout, Says Analyst"},"content":{"rendered":"<ul>\n<li><strong>It\u2019s breakout time after a post-halving accumulation phase for Bitcoin, says one analyst, citing historical patterns.<\/strong><\/li>\n<li><strong>The boost from the Fed rate cuts is fading, with the top coin holding steady at around $63,000, as similar rate cuts from China\u2019s PBoC failed to make a mark.<\/strong><\/li>\n<\/ul>\n<hr>\n<p>Halving <a href=\"https:\/\/www.crypto-news-flash.com\/how-does-bitcoin-halving-influence-inflation-control\/\" target=\"_blank\" rel=\"noopener\">has always been a landmark event<\/a> in Bitcoin\u2019s history, and it usually dictates the price movement over the next several months. However, this year\u2019s halving has failed to make as big a mark, but according to one analyst, it\u2019s time to saddle up as BTC enters its breakout phase.<\/p>\n<p>Bitcoin trades at $62,800, dipping slightly in the past day for a $1.24 trillion market cap. It hit an intra-day high of $63,900 before losing the momentum, and in the past few hours, it has dipped 1.56%.<\/p>\n<p>Bitcoin is stuck in a bull flag pattern, and a breakout above the upper trendline could push it above $78,000, as shown below.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-858798 size-full\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/09\/0192233c-74c6-73b6-92c0-8bc1ac343735.png\" alt width=\"2743\" height=\"1457\"><img loading=\"lazy\" decoding=\"async\" class=\"lazyload alignnone wp-image-858798 size-full\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/09\/0192233c-74c6-73b6-92c0-8bc1ac343735.png\" alt width=\"2743\" height=\"1457\" data-sizes=\"(max-width: 2743px) 100vw, 2743px\"><\/p>\n<p>According to Rekt Capital, BTC is about to embark on a massive rally to new heights. However, the popular analyst predicates this rise on a repeat of a historical pattern; the token always breaks out 157-161 days after halving. It\u2019s worth noting, however, that it\u2019s been 153 days since the halving.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <\/p>\n<p>Historically, Bitcoin has broken out from its ReAccumulation Range 154-161 days after the Halving<\/p>\n<p>It is 157 days after the Halving now<\/p>\n<p>History suggests it is &#8220;Breakout Time&#8221; for Bitcoin<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/Ydqlu4JKSf\">https:\/\/t.co\/Ydqlu4JKSf<\/a> <a href=\"https:\/\/t.co\/CwRvUYnHW0\">pic.twitter.com\/CwRvUYnHW0<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1838269432960843880?ref_src=twsrc%5Etfw\">September 23, 2024<\/a><\/p>\n<\/blockquote>\n<p>The analyst noted:<\/p>\n<blockquote>\n<p>In 2016, Bitcoin broke out from its post-Halving ReAccumulation Range 154 days after the Halving. In 2020, Bitcoin broke out from its post-Halving ReAccumulation Range 161 days after the Halving. It\u2019s 2024 and Bitcoin is 157 days after the Halving.<\/p>\n<\/blockquote>\n<p>The analysis around the token\u2019s halving <a href=\"https:\/\/www.crypto-news-flash.com\/bitcoins-historic-rally-post-halving-predictions-point-to-a-350000-peak\/\" target=\"_blank\" rel=\"noopener\">have proven unreliable<\/a> this year, however. BTC has recorded its worst performance post-halving in the five months since April. This dynamic has led many analysts to move away from the halving as a significant price metric. In a report this month, the head of research at Outlier Ventures, Jasper De Maere, <a href=\"https:\/\/outlierventures.io\/article\/token-trendlines-2-bitcoin-halving-the-four-year-cycle-is-dead\/\" target=\"_blank\" rel=\"nofollow noopener\">stated<\/a>:<\/p>\n<p data-v-f87c67ca>\u201cThe halving no longer has a fundamental impact on the price of BTC and other digital assets, with the last time it had dating back to 2016. It\u2019s time for founders and investors to move away from the notion of a four-year cycle as digital asset markets mature.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Gold is outperforming <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> in the halving year<\/p>\n<p>We have seen this before \ud83d\udc40 <\/p>\n<p>You know what happened next<\/p>\n<p>Zoom out to see it<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/BDg2sKwv8k\">pic.twitter.com\/BDg2sKwv8k<\/a><\/p>\n<p>\u2014 Elja (@Eljaboom) <a href=\"https:\/\/twitter.com\/Eljaboom\/status\/1838545300404732384?ref_src=twsrc%5Etfw\">September 24, 2024<\/a><\/p>\n<\/blockquote>\n<h3>What\u2019s Next for Bitcoin?<\/h3>\n<p data-v-f87c67ca>While the halving may not have brought the tidings that BTC owners projected, the top crypto could still have a strong end to the year. For starters, the rate cuts in the US were bullish for cryptos, and today, the People\u2019s Bank of China <a href=\"https:\/\/www.reuters.com\/world\/china\/china-rolls-out-broad-rate-cuts-other-stimulus-spur-weak-economy-2024-09-24\/\" target=\"_blank\" rel=\"nofollow noopener\">announced<\/a> rate cuts and other economic stimulus to spur the nation\u2019s weakening economy.<\/p>\n<p data-v-f87c67ca>According to Jamie Coutts, the chief crypto analyst at <a href=\"https:\/\/www.crypto-news-flash.com\/real-vision-ceo-wine-collector-raoul-pal-appointed-to-dvin-labs-board-of-directors\/\" target=\"_blank\" rel=\"noopener\">Raoul Pal<\/a>\u2018s investment firm Real Vision, China\u2019s rate cuts are bullish for Bitcoin. He <a href=\"https:\/\/x.com\/Jamie1Coutts\/status\/1838472932588425632\" target=\"_blank\" rel=\"nofollow noopener\">added<\/a>:<\/p>\n<blockquote>\n<p data-v-f87c67ca>The bottom is in for global central bank liquidity for this cycle. Sit back and watch the other CBs fall into line. In a credit-based fiat fractional reserve system, debasement is a feature, not a bug.<\/p>\n<\/blockquote>\n<hr>\n<h6>Recommended for you:<\/h6>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s breakout time after a post-halving accumulation phase for Bitcoin, says one analyst, citing historical patterns. The boost from the Fed rate cuts is fading, with the top coin holding steady at around $63,000, as similar rate cuts from China\u2019s PBoC failed to make a mark. Halving has always been a landmark event in Bitcoin\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":462459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,10],"tags":[31,25],"class_list":{"0":"post-462458","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-other","9":"tag-bitcoin","10":"tag-news"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/462458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=462458"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/462458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/462459"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=462458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=462458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=462458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}