Post
Topic
Board Speculation
Re: Bitcoin hits $64K: What will October bring for BTC?
by
LogitechMouse
on 21/09/2024, 17:29:11 UTC
It's not "Uptober" yet, but we're seeing signs of a bull run. BTC has already reached $64K, and September has been a decent month so far. Many are leveraging this momentum, preparing for a potential bull run or a trading fiesta, as the market is looking green.

Do you think the recent surge is a facade, or will we see a more strengthened market in the coming months?

TBH, it's a bit surprising that it's looking like we will end the month of September with a green candle. I mean just by basing on the history of movement of price of Bitcon during the month of September in the last 11 years, it averaged negative. Point is, I didn't expect it, but I'm happy to see Bitcoin above $60,000 for days already.

Is this a sign of a bull run? I think so and if you will look at the history, price of Bitcoin during the month of October tend to go up massively hence, there might investors out there who bought Bitcoin in advance so that they will not buy it anymore when it goes up next month. Based on history, Bitcoin's price in the final 3 months of the year tend to go up-down-up. I'm not sure if this will be the case this year as well, but there's a high chance that we might see the bull run happening next year just because of it's current price movement. If it stays above $60,000 for weeks, it's already a good sign.

Also, let's not forget that the US election will be happening a few months from now, and I hate to say it, but it might be a catalyst for the upcoming bull market. Both shown interest with Bitcoin, and even though I don't think that this is genuine, I believe that it will have some effect towards the price of Bitcoin in the long run. As for the month of October, I expect nothing but an upwards movement. Smiley