Despite the massive market volatility, it seems that Bitcoin will see a bullish October, according to the latest reports. Check out the details below.
Bitcoin new prediciton is out
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $19,333.
A widely followed crypto strategist is expressing bullish sentiment for Bitcoin (BTC) as the last quarter of the year begins.
The anonymous host of InvestAnswers said not to long ago in a new video that October is historically a bullish month for Bitcoin.
According to the host of InvestAnswers, Bitcoin could hit up to $26,000 over the next four weeks. This is based on the average return for October.
Bitcoin last recorded a price of over $26,000 in June while it last rose above $25,000 in August.
“If Bitcoin can hold in and around its level, it’ll be better than previously…”
The host continued and said:
“Looking forward to October, the average return for October is 28.42%, which would take the Bitcoin price up to about $25,000 – $26,000. So, we’ll see if it goes there.”
He also stated the following:
“Twenty-five thousand dollars is where we were not too long ago, and we could easily get back to that level.”
Compared to other months, the host of InvestAnswers says that October has typically offered the third-highest average monthly returns.
“Let’s look at how October benchmarks against other months in the history of Bitcoin…
Here you can see September is red. August is kind of like breakeven.”
But October is the third-best month historically. And that’s why many people refer to it as Uptober.”
Regarding Bitcoin, Capo says that two scenarios could play out – both of which would see Bitcoin fall by nearly 30% from current levels.
In a new interview with Altcoin Daily, Robert Breedlove, CEO and founder of crypto investment firm Parallax Digital, said that the king coin could reach a price tag of $12.5 million nine years into the future.