Bitcoin has returned to the mainstream. BTC recently reached $60K. This has reignited hopes that BTC can reach $70K again in the near future and maybe even surpass it. Will BTC achieve this? Find out.
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Bitcoin Peak and Fall
Bitcoin trades for $62K. Federal Reserve’s recent announcement of its intention to reduce rates by 50% BPS had an impact on the crypto-market. The price of gold and other assets that were significant after the announcement stabilized.
Similarly, after Bitcoin hit the $62K threshold, investors now look forward to when its token will return to a bullish phase.
OxNobler is a notable analyst who took to X with a brand new hypothesis. The peak Bitcoin season will soon be here.
Experts predict that the next bull-run will begin in 2024. Later, the analyst shared that Bitcoin’s peak patterns indicate BTC gains momentum about 170 days following the Bitcoin event.
OxNobler explained how BTC would claim its cycle after 170 days. After the event has passed, BTC will reach its peak approximately 310 days after. This could mean that October is a good month for BTC. BTC may be the top coin on charts and this could also cause altcoins to rise, providing lucrative returns for many investors.
“The next bull run starts in October 2024 🔥 BTC cycles begin 170 days after halving and peak 310 days later. In 2020, I made over 150x on $MATIC and $SOL by following this pattern. Today, I’m buying other alts with 100x potential👇”
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Tokens’ Price Prediction for mid-October.
A crypto analytics platform is a leader in the field. CoinCodexBitcoin could reach $84K on October 19th, a 36% increase.
“According to our current Bitcoin price prediction, the price of Bitcoin is predicted to rise by 36.66% and reach $84,956 by October 19, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 49 (neutral). Bitcoin recorded 15/30 (50%) green days with 4.24% price volatility over the last 30 days. Based on the Bitcoin forecast, it’s now a good time to buy Bitcoin.”
BTC is currently displaying a bullish mood, and buy signals are urging BTC investors to do so in a safe manner.
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Source: watcher.guru
