Summary:
Lark Davis predicts a bullish trajectory for Bitcoin by summer 2025.
Historical patterns show three major bull runs approximately every four years.
The fourth quarter post-halving has consistently been bullish in previous cycles.
Rekt Capital notes a historical 22.9% return in October for Bitcoin.
Recent price uptick indicates potential for a bullish reversal towards $64,000.
Analyst Lark Davis Predicts a Bullish Bitcoin Future
Renowned analyst Lark Davis is forecasting a bullish trajectory for Bitcoin by the summer of 2025. His optimistic outlook is based on historical patterns observed in BTC’s previous price cycles, which have seen three major bull runs over approximately four years, each culminating in a significant price peak within a year following a Bitcoin halving event.
Impressive Quarterly Returns
In a recent post on X, Davis pointed to impressive quarterly returns in previous halving years—2016 and 2020. The fourth quarter following halving events has consistently been bullish. In the years after the halving, such as 2017 and 2021, Bitcoin saw bullish price action from the first to the third quarter.
“If history repeats itself, it could unleash mind-blowing gains that most people can’t even fathom,” Davis remarked, indicating significant growth opportunities in 2025.
Bullish Sentiment from Rekt Capital
Adding to this bullish sentiment is Rekt Capital, who recently informed his followers that Bitcoin could see a strong fourth quarter. He highlighted that Bitcoin has historically averaged a 22.9% return in October, with only two instances where it closed lower than it opened in that month. Meanwhile, Bitcoin has averaged a -5% return in September.
Potential Price Movements
Bitcoin's price recently experienced a significant uptick from September 8, reaching a high of $60,771 on September 14. However, following this rally, Bitcoin underwent a corrective phase, forming a rounding top pattern. This bearish formation suggests potential downward pressure towards the $55,137 support zone.
With the RSI now on a downward trend, buyers might capitalize on perceived undervaluation. A surge in demand could lead to a bullish reversal, propelling Bitcoin towards the $64,000 monthly high and potentially igniting a broader bull run into 2025.
Looking Ahead
As we approach the next halving cycle, all eyes will be on Bitcoin to see if it can replicate the historical patterns that have led to previous bull runs. The potential for mind-blowing gains looms large as analysts keep a close watch on market movements.
Source: X, GeckoTerminal, TradingView
Comments