Bitcoin (BTC), by far the most popular cryptocurrency, celebrated an amazing September last week, reaching a high of $66 560, which was a record for two months.
The strong dollar fell below its peak in March of $73,700. performance The positive performance of Bitcoin in September raised the expectations that it would continue to grow as we approach the end of this year. History shows that when Bitcoin finishes September on a positive note, it often leads to even greater gains in the next three months.
A Major Rally at Year’s End Could Be the Best September Ever
In a post on social media, crypto expert Ali Martinez pointed out this pattern. postIn order to emphasize the correlation between an upbeat September and price rises, we have highlighted this.
Bitcoin’s performance has been particularly impressive since 2015 as can be seen from the below image shared by an analyst. Bitcoin averaged gains over 20 percent in September, 10 percent in November and more than 20% in December.
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Bitcoin’s previous Septembers which ended with a green led to modest gains. In fact, the average gain for the bullish months was about 8%. The best Bitcoin September ever may lead to even greater gains this time around.
Bitcoin is currently trading for $62,000. Its future trajectory looks promising. If Bitcoin adheres historical averages following bullish Septembers—projected gains of 20% in October, 10% in November, and another 20% in December—BTC could realistically approach a price of nearly $98,000 by year-end.
Also, the crypto tends to rise and fall. “parabolic bull run” Martinez, in addition to the Halving Year October each year pointed outThe bullish outlook is a further indication that this could be the best quarter in Bitcoin’s history.
Option Market Predicts Bitcoin Dive Ahead
One expert, however, is cautious in the face of current market conditions. Recently, Analyst InspoCrypto published a report. noted Options market shows a cautious image.
The data indicates that most positions have a negative outlook. Some block trades suggest this. a potential dip Bitcoin prices between $60,000 to $55,000.
This current “max pain” point—where the most options would expire worthless—is $62,000. The price hovers near this point, and there are concerns that it could lead to the continuation of the bearish trend.
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The analyst also noted that positions above $60,000 are susceptible to liquidation. But despite the cautious signals that have been sent for October, it appears as though there is a much more positive outlook after this month.
InspoCrypto highlighted that the data on the option market indicates a strong upward trend. bullish sentiment For the months that follow October. Bitcoin is expected to reach $80,000 by many traders, and some have even predicted a price of $100,000.
Imagine a dip occurs in October, as data indicates. The analyst thinks that in this case it could be the last chance for investors to get into Bitcoin before its significant rise.
Chart by TradingView.com. Image from DALL.E.
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Source: www.newsbtc.com
