The downward trend in Bitcoin prices has continued since a few weeks ago until now where the bitcoin price is still at the level of $42k. Will Bitcoin's downward trend continue or will it return to the $50,000 to $60,000 price level next month?
I think the downward trend in bitcoin price is over. Entering the month of October, Bitcoin price movements are very significant. Bitcoin bounced back up to the current $57k level. The potential to continue strengthening continues until the end of this month. Therefore I think the $60k figure will be easy to break this month considering the bitcoin price has already reached $57k.
Bitcoin's 14% increase this week is a good result, so it's only natural to be optimistic that the downtrend is over. So the price of Bitcoin is very likely
starting this month will continue to rise until the end of the year, but it's possible that the opposite can happen. This is why investing in Bitcoin
must be careful, because the risk is very high, the price of Bitcoin is volatile and difficult to predict. A good plan and strategy is needed, so we can
also prepare for the worst scenario that will happen, so whatever will happen we are ready to face it.
I can see that bitcoin is very bullish as of this moment but we should not expect that it will always stay in there. Bitcoin has a very high volatility so the current price is not really permanent as it will surely bound to change. We can say that the downtrend is over and we are now facing its journey to its new ATH but since price corrections always have its own way and its always inevitable, so its a good thing that we should be ready for it and take some other profitable measures if possible.