According to the expert, the jump in the value of the first cryptocurrency may happen as early as October. Rekt Capital believes that the forming diagram inspires optimism regarding Bitcoin and creates a bullish flag on the chart.

"So far, Bitcoin is showing the potential for a downward deviation in the near future. Now, about 110 days after the halving, the first cryptocurrency is slowly approaching its historical breakout point 150-160 days after the halving," Rekt Capital noted.

The expert emphasized that the fall of the Japanese stock market on August 5 had a direct impact on American indices and the Bitcoin rate, as traders borrowed Japanese yen at low interest rates to buy assets on the US market.

The current situation on the crypto market does not indicate that the value of the first cryptocurrency may fall to $42,000, as buyers are showing strong support for the asset, the analyst noted.

Rekt Capital believes that a price breakout will take place, but one should not expect a renewal of the historical maximum reached in March in the medium term.

Earlier, Samson Mow, CEO of Jan3 and former head of blockchain firm Blockstream, said that he considers Bitcoin to be a difficult instrument to value during periods of financial turmoil in the market.#binance #Bitcoin $BTC