Analysis: Bitcoin is expected to hit $70,000 in October
According to CoinDesk, Bitcoin is expected to achieve at least a 9% increase in September, breaking the negative return trend for this month since 2013 and laying a strong foundation for the upcoming October. Historical data shows that an increase in September often signals further growth in October, November, and December. In contrast, since 2013, there have only been two losses in October with an average increase of 22%. Against the backdrop of current global monetary policy and U.S. political support, market analysts predict that Bitcoin has the potential to rise from about $64,000 to $70,000 starting a bull market cycle. Seasonal factors also indicate that as demand increases investor confidence in Bitcoin is expected to continue strengthening.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: Ethereum buy-sell ratio hits 4-month high after Fusaka upgrade
Strategy has accumulated a total of 203,600 bitcoins this year.
Bitmine may have accumulated an additional 41,946 ETH about 5 hours ago
Aster has officially burned 77.86 million ASTER tokens repurchased in S3.