The fourth quarter (Q4) of each four-year cycle has historically always been x.com/rovercrc/status/1837219176630423802?s=46″ rel=”nofollow” target=”_blank”>bullish for bitcoin (btc). Just a week into Uptober, a cryptocurrency analyst shared predictions about How high could the price of bitcoin go? during this typically bullish season.
This is how far bitcoin can go on Uptober
In a recent article on x (formerly twitter) x.com/cryptojellenl/status/1838553389388439792?s=46″ rel=”nofollow” target=”_blank”>mailCryptocurrency analyst Jelle shared his thoughts on how the next few weeks would impact the bitcoin/bitcoin-prediction-100000-nominal/” rel=”nofollow noopener” target=”_blank”>bitcoin PriceAccording to several analysts, the month of September is considered a historically bearish period for btc, characterized by volatility and btc/bitcoin-risk-57500/” rel=”nofollow noopener” target=”_blank”>severe price dropsHowever, in the cryptocurrency market, a prolonged bearish period usually precedes a breakout.
With the end of September, the long-awaited Uptober is about to begin. The term “bitcoin-price-is-headed/” rel=”nofollow noopener” target=”_blank”>Until October“was coined by many within the crypto community to describe the typical upward price pattern seen during October. Jelle has noted that in the previous two bull cycles, during the volatile “summer festival seasons,” bitcoin/bitcoin-all-time-high-60000/” rel=”nofollow noopener” target=”_blank”>bitcoin price has skyrocketed two or three weeks after the start of the fourth trimester, which begins in October.
Based on this recurring bullish trend, the analyst has suggested that a similar trend price break It could happen with bitcoin in a few weeks of October. Jelle shared a detailed chart of btc price movements from 2020 to date, noting The next target price for cryptocurrencies.
He predicted that the price of bitcoin could rise to $150,000 by October. For this significant price increase to occur, bitcoin would need to rise by around 135% from its current price of $63,817 at the time of writing.
Sharing a similar sentiment, a cryptocurrency analyst known as 'Altstein Trade', x.com/altsteinn/status/1838553723179598293?s=46″ rel=”nofollow” target=”_blank”>revealed that October is a crucial month for btc and considering historical patterns, the market could see some interesting possibilities. He added that if bitcoin can make it through the coin festival season, Breakout expected in Q4 Could set the stage for new highs.
In a previous post, Jelle also revealed that btc was currently on track to witness the bitcoin–btc-on-track-for-strongest-september-performance-is-90000-next/” rel=”nofollow noopener” target=”_blank”>September's best performance in history. He revealed that if cryptocurrency can bitcoin/green-september-close-bitcoin/” rel=”nofollow noopener” target=”_blank”>Closing September in greenThe fourth quarter of 2024 could be very promising, with a high probability of October, November and December being significantly bullish.
btc Fractal Patterns Suggest a Repeat of Last Year's Uptober
bitcoin expert and analyst Kaleo has x.com/cryptokaleo/status/1838620911114612900?s=46″ rel=”nofollow” target=”_blank”>stretched Parallels between bitcoin's price action and its performance over the past year. btc/bitcoin-price-downside-60k/” rel=”nofollow noopener” target=”_blank”>Current trends observed in September 2024. Kaleo noted that September 2023 marked a bottom for bitcoin, however, the cryptocurrency experienced a btc/bitcoin-price-higher-65k-2/” rel=”nofollow noopener” target=”_blank”>upward momentum at the end of September, extending until December.
As a result, the analyst remains optimistic about bitcoin-final-cycle-pump-puts-price-as-high-as-200000/” rel=”nofollow noopener” target=”_blank”>bitcoin Future Outlookexpecting the cryptocurrency’s price action to play out as per historical bullish patterns in Q4. According to its price chart, Kaleo projects that btc could potentially witness a price surge to $112,000.
Featured image created with Dall.E, chart from Tradingview.com
