As a seasoned crypto investor with a decade of experience under my belt, I’ve seen more than a few market cycles, and I must say, I find myself feeling quite optimistic about the upcoming Uptober. The historical bullish trend for Bitcoin during Q4 has always been intriguing, and with analysts like Jelle and Kaleo predicting potential price surges of up to $150,000 and $112,000 respectively, I can’t help but feel a sense of anticipation.
Historically speaking, the final three months of every four-year period have tended to be favorable for Bitcoin (BTC), often experiencing a surge in value. As we get closer to what’s known as “Uptober,” a cryptocurrency expert has offered predictions on just how high the price of Bitcoin might climb during this historically bullish season.
Here’s How Far Bitcoin Can Climb In Uptober
In a recent X (formerly Twitter) post, crypto analyst, Jelle shared insights on how the next few weeks would have an impact on the price of Bitcoin. According to various analysts, the month of September is seen as a historically bearish period for BTC, characterized by volatility and severe price declines. However, in the crypto market, a prolonged bearish period often precedes a breakout.
As September comes to a close, we’re eagerly looking forward to what is being called “Uptober”. This term has been used by many within the cryptocurrency community to describe the common trend of rising prices during October. It’s worth noting that, in the past two bull markets, Bitcoin’s price has often started increasing a few weeks into the fourth quarter, which begins in October, even amidst the volatile summer seasons. This insight was shared by Jelle.
According to the analyst’s prediction, there could be another price surge similar to the bullish trend in Bitcoin within approximately four weeks of October. Jelle provided a comprehensive chart illustrating Bitcoin’s price fluctuations from 2020 up until now, highlighting the potential future price objective for the cryptocurrency.
As an analyst, I foresee a potential surge in the value of Bitcoin, possibly reaching up to $150,000 by October. To attain this substantial increase, Bitcoin would need to experience approximately a 135% growth from its current price of $63,817, as observed at the time of writing.
In a similar vein, the crypto expert ‘Altstein Trade’ has pointed out that October is a crucial month for Bitcoin, and based on past trends, there may be some intriguing opportunities on the horizon. He further noted that if Bitcoin manages to break through its current volatile period, the predicted surge in Q4 could pave the way for fresh record highs.
Previously, Jelle had shared that Bitcoin was expected to deliver its most powerful September performance ever. He mentioned that should Bitcoin end September with a positive balance, the final quarter of 2024 might prove quite prosperous, with a high probability of October, November, and December seeing a bullish trend.
BTC Fractal Patterns Hint Repeat Of Last Year’s Uptober
Bitcoin analyst Kaleo has noted similarities between Bitcoin’s price movements and its behavior in the previous year, specifically focusing on trends seen in September 2024. Kaleo suggests that a low point for Bitcoin was reached in September 2023, but a surge in the cryptocurrency began towards the end of that month, continuing until December.
Consequently, the analyst maintains a positive viewpoint about Bitcoin’s future prospects, anticipating its price movements to align with past bullish trends during the fourth quarter. According to Kaleo’s analysis, Bitcoin might experience a significant rise in value, possibly reaching $112,000.
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2024-09-25 20:11