Bitcoin (BTC), briefly, reclaimed $60,000 on September 13, 2024. Although the price of the cryptocurrency recovered, it was not able to hold the level at $60k. Its value dropped down to $58,000.
BTC’s daily chart is showing a 0.4% decline, the 14-day chart a 0.6% drop, and the month prior -1.4%. The asset is still green on the weekly charts and the yearly charts. It has risen by 2.5%, and 121.7%, respectively.
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Why is the market so dull?
Bitcoin (BTC), the price of bitcoin, seems to have consolidated just under $59,000. Low investor sentiment or macroeconomic factors could explain the lack of movement. The US inflation figures came in below expectations, while the US jobs numbers did not please market participants.
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Even though the market may look downright now, the Federal Reserve’s announcement of rate reductions starting in this month could lead to a reversal.
BTC To Reach $82,000
CoinCodex predicts that Bitcoin will surpass $80,000 in the near future. Platform predicts that BTC will reach a new high of $82,180 in October 2024. That’s roughly one month away. A price increase of almost 40% would be achieved if BTC reached $82,180.
The researchers at Changelly also anticipate a similar outcome for Bitcoin (BTC). The platform anticipates BTC to breach the $80,000 level in October, hitting a new all-time high of $82,223 on Oct. 14, 2024.
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The predictions for BTC may be very bullish but it’s possible the asset won’t reach its new record high in October, if interest rates aren’t well-received by the market.
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Source: watcher.guru
