Bitcoin is currently in a bear market. However, analysts are optimistic about its medium-term prospects. The pioneer of digital currencies has always been the leader. While most digital assets are reporting losses, there is reason to believe that better days are ahead.

Experts suggest that Bitcoin could soon break out of its six-month sideways range, with a potential surge expected between mid-September and early October. Currency strategists at Rekt Capital believe that the future trajectory of Bitcoin is closely tied to its halving cycles. Historically, Bitcoin tends to emerge from consolidation approximately 150-160 days after a halving event.

Back in 2020, it took 161 days for BTC to start a bullish run that eventually peaked at $69,000 in 2021. If this pattern repeats itself in the current cycle, the world’s largest cryptocurrency could surprise the market with impressive gains by the end of September.

However, there is another scenario to consider that played out in the past. This alternative pattern suggests that Bitcoin’s anticipated surge may be delayed. September is traditionally a tough month for the digital asset, a phenomenon known as the "September effect" in the stock market.

Analysts note that September has historically been Bitcoin’s worst-performing month, with the lowest average returns since 2013. At the same time, they remain positive, predicting that the year 2024 could be different. For the first time, Bitcoin hit a new all-time high of $73,800 ahead of its March halving, breaking historical norms.

Despite this anomaly, the established patterns of Bitcoin's halving remain in place. Against this backdrop, analysts expect the digital currency to gain upside momentum in the coming weeks.