The upward trend in the price of bitcoin during the month of September could extend to reach an all-time high in the month of October, according to cryptocurrency market analysts.

Normally, the ninth month of the year has been favorable for BTC. In 2024, despite the ups and downs in the value of the cryptocurrency, investors and analysts are optimistic.

Traders and analysts are taking into account the possible boost from factors such as the reduction in interest rates and the presidential elections in November in the United States. A “robust stock market” may also be favorable to the main digital asset.

In October, the price of BTC could reach a new all-time high (ATH) “with the breakout of the bearish channel as the key” to give way to a bullish scenario, which could boost the value of bitcoin to $100,000. “If everything follows a logical course, this last quarter we could see bitcoin marking a new ATH, far exceeding $75,000,” the analysts indicate.

M.Pino

Source: criptotendencias

(Reference image source: Getty Images for Unsplash+)

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La entrada Bitcoin price could hit all-time high in October apareció primero en Bitfinance.