As the Bitcoin price approaches record highs, recently surpassing the $121,000 mark, analysts are increasingly optimistic about the cryptocurrency’s trajectory for October, often termed “Uptober.” According to the analysis team at The Bull Theory, there’s a possibility that the Bitcoin price could reach as much as $143,000, meaning a potential surge of nearly 20% for the rest of the month. Bitcoin Price Poised For October Rally Such projections may seem ambitious, but historical data supports the notion that October has consistently been one of Bitcoin’s strongest months. Over the past 12 years, BTC has closed in the green during October in 10 of those years, and the correlation between strong performances in September and October is noteworthy. Following a positive September—where the Bitcoin price recently posted a gain of 3.91%—the stage appears set for another fruitful October. Bitcoin has an impressive October win rate of 83%, having only recorded losses in the month twice since 2011. Related Reading: Ethereum Price Forecast: Expert Predicts Final Impulse Wave Targeting $18,000 In 2014, the cryptocurrency fell by 12.95%, and in 2018, it dropped by 3.83%. This remarkable track record highlights October as one of the most profitable months for Bitcoin holders, with an average return of 20.62%. The pattern remains consistent: every time September has closed positively, October has followed suit. Historical data from previous years shows that a green September often leads to substantial gains in October. For instance, in 2015, the Bitcoin price rose by 33.49% after a September increase of 2.35%. Similarly, in 2023, a 3.91% gain in September translated to a substantial 28.52% increase in October. Could BTC Reach $150,000? The bullish sentiment doesn’t end there. In four out of four instances where both September and October closed positively, November also maintained the upward trend. The data showcases consistent gains: in 2015, November saw a 19.27% increase following a strong October. If Bitcoin were to replicate its historical average return of 20.62% this October, a price point around $143,539 could be on the horizon. Even if it aligns with the median return of 14.71%, investors could see new records reaching just above $136,000. Related Reading: Bitcoin Price Nears Record Levels, Predictions Point To $140,000 By Early 2026 Market expert Michael van de Poppe has also chimed in on the bullish outlook for the Bitcoin price. He noted several strong technical indicators, including BTC’s ability to hold the 20-week moving average as support, breaking through a downtrend at $112,000, and positioning for the highest weekly close in its history. Recent performance has seen a robust 11% weekly candle, further fueling optimism. Additionally, with gold experiencing a significant run, the expert suggests that the Bitcoin price appears poised to catch up. Van de Poppe has expressed confidence that, if current trends continue, the market’s leading cryptocurrency could not only hit $150,000 this quarter but also achieve a new all-time high within the month. When writing, BTC trades at approximately $121,669, only 2% below all-time high levels above $124,000. Featured image from DALL-E, chart from TradingView.com
Despite recent fluctuations that saw the Bitcoin price retrace nearly 6% on a weekly basis, market expert Timothy Peterson remains bullish on the leading cryptocurrency’s future. The expert, also a Bitcoin author and economist, predicts that there is at least a 50% chance that the Bitcoin price could reach a new all-time high of $200,000 by June 2026, a forecast he shared on social media platform X (formerly Twitter) on Thursday. Optimistic Projections For The Bitcoin Price Peterson’s optimistic outlook is grounded in his analysis of the Median Bitcoin Yearly Price Path chart, which suggests that October typically marks the beginning of a new upward trend for the Bitcoin price, extending through to June of the following year. He elaborated that achieving the $200,000 target would require an average monthly return of approximately 7%, translating to an 120% annualized increase. Furthermore, he noted a 50% or greater likelihood of Bitcoin reaching a new all-time high by early November of this year. Related Reading: All-Time Highs For Gold, S&P500; Crypto Stands Alone In The Red – What’s The Root Cause? As seen in the chart below, Peterson outlined additionally, two potential bullish scenarios for Bitcoin’s trajectory. The most scenario points toward a surge to a new record of $240,000, while a more conservative estimate suggests a rise toward $160,000. Regardless, these indicators he referenced imply that the remainder of the year and subsequent months of 2026, could be marked by significant price increases for the market’s leading cryptocurrency. However, the broader crypto market performance has not been without its challenges. Investors Brace For Friday’s PCE Data On Thursday, Bitcoin and other cryptocurrencies like Ethereum (ETH), XRP, and Solana (SOL), experienced a downturn as investors shifted their focus to upcoming economic data, particularly following a sharp market correction earlier in the week. Traders are particularly attentive to Friday’s personal consumption expenditure (PCE) data, the Federal Reserve’s (Fed) preferred measure of inflation, which could have implications for future interest rate decisions. When interest rates decrease, more stable investments such as bonds or equities tend to offer lower yields, encouraging investors to seek riskier assets like cryptocurrencies. Related Reading: Ex-Binance CEO CZ Criticizes FT Report On YZi Labs, Calls It A ‘Negative Narrative’ Earlier in the week, a substantial sell-off occurred across the crypto market, marking the largest deleveraging event of the year. On Monday, many digital asset investors unwound bullish positions that had been established after the Fed’s recent quarter-point interest rate cut. Maja Vujinovic, CEO of Digital Assets at FG Nexus, commented on the situation, emphasizing that the recent liquidations stemmed from excessive leverage rather than failing market fundamentals. She noted, “Overheated funding post-Fed left traders exposed; once Bitcoin rolled over, forced unwinds hit ETH and altcoins hard.” Despite the cautious sentiment prevailing in the crypto market this week, Vujinovic pointed out that historical trends suggest these “leverage washes” often pave the way for a healthier market foundation. Featured image from DALL-E, chart from TradingView.com
Following the recent decision by the US Federal Reserve (Fed) to cut interest rates, the Bitcoin price has resumed its upward trajectory after a brief period of consolidation below $115,000. This shift aligns with forecasts from leading analysts, who suggest that the market’s top cryptocurrency may reach a new all-time high (ATH) in the coming months. Some experts even believe that this milestone could be achieved as soon as two weeks from now. Bullish Indicators Emerge Market expert Axel Adler has highlighted key indicators supporting this outlook. He noted on social media platform X that BTC futures are trading at a premium compared to spot prices, with a consistently positive basis. Additionally, the seven-day basis is above the thirty-day average, suggesting a bullish market regime. Related Reading: Coinbase Vs. State Regulators: Crypto Exchange Fights Legal Fragmentation Adler’s analysis suggests a base case probability of around 70% for a continued stepwise uptrend or sideways movement over the next two weeks for the Bitcoin price. He emphasized that if a cluster of bullish signals emerges—such as rising prices, an increasing basis, and growing open interest—this would likely attract fresh long positions and enhance the likelihood of the Bitcoin price achieving a new ATH. Importantly, the Short-Term Holder (STH) Market Value to Realized Value (MVRV) Z-scores for both the 155-day and 365-day periods are hovering near zero, indicating that the market is balanced and not in an overheated or oversold state. With the Bitcoin price positioned just above its Short-Term Realized Price, Adler stresses that the stage is set for potential consolidation over the next week or two, followed by a possible surge toward new highs. Adler referred to this anticipated movement as a new “uptober” for Bitcoin and the broader digital asset market. Bitcoin Price Boost Predicted Amidst Strong US Stock Market Performance Adding to the bullish sentiment surrounding the Bitcoin price is the recent performance of US stocks, which have been on a significant uptrend for the past two weeks. Analysts at The Bull Theory have noted a correlation between stock market rallies and the Bitcoin price action, with the analysts suggesting that Bitcoin tends to rise when US equities hit new highs. Related Reading: Next XRP ‘Monster Leg’ Will Start No Earlier Than 2026: Analyst Historical data supports this notion: as seen in the chart below, after an all-time high in the S&P 500, the Bitcoin price has averaged an increase of 12% over 30 days and an impressive 36% over 90 days. If this were to occur again, the Bitcoin price would reach $131,000 and even $178,000 respectively. Similarly, following a Nasdaq all-time high, Bitcoin’s average gains are 16% in 30 days and 46% in 90 days. This scenario would position the market’s leading cryptocurrency at $136,000 and $199,000 if similar price action unfolds from current trading levels of $117,770. Featured image from DALL-E, chart from TradingView.com
Earlier this morning, Bitcoin (BTC) hit a yearly low of $86,888 amid a broader market downturn. According to data from CoinGlass, the crypto market sell-off led to over $1.5 billion in liquidations in the past 24 hours, impacting 394,944 traders. More Downside For Bitcoin? After trading in the mid-$90,000 range for several weeks, BTC crashed to $86,888 on the Binance cryptocurrency exchange, marking its lowest point this year. The premier cryptocurrency is down 7.6% in the last 24 hours. Related Reading: As Bitcoin Sell Pressure Fades, Could A Local Bottom Be Forming? Analyst Explains Similarly, other major cryptocurrencies have suffered sharp declines. Ethereum (ETH) is down 10.5%, XRP has dropped 14.5%, and Solana (SOL) has plummeted 18.2% in the past 24 hours. Meanwhile, the total crypto market cap has shrunk by 9%, tumbling from $3.3 trillion to $3.01 trillion over the same period. Despite the sharp market pullback, the worst may not be over for BTC just yet. According to Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, Bitcoin could still see further losses. Kendrick noted that while BTC has performed “relatively well,” the flagship cryptocurrency remains caught in a broader market sell-off, partly driven by Solana-based meme coins. He warned that another 10% decline may be on the horizon, potentially pushing Bitcoin’s price down to the low $80,000s. Macroeconomic Uncertainty Weighs On Crypto Further, Kendrick emphasized that although a decline in US Treasury yields could eventually benefit BTC, the large outflows from Bitcoin spot exchange-traded funds (ETFs) suggest that “it is not time to buy yet.” In addition to the crypto market downturn, US President Donald Trump reiterated yesterday that his proposed trade tariffs on Canada and Mexico are set to take effect on March 4. As a result, the equity market is expected to open lower today, adding further pressure to risk assets like cryptocurrencies. The uncertainty in equity markets is expected to spill over into the digital assets sector, potentially leading to deeper pullbacks for cryptocurrencies. At the time of writing, the Crypto Fear and Greed Index has dropped to a five-month low of 25, signaling “extreme fear” in the market. Bitcoin’s recent price breakdown aligns with an earlier forecast by seasoned crypto analyst Ali Martinez, who predicted that if BTC broke below $93,400, it could experience significant volatility. Related Reading: Bitcoin Price Forecast Of $150,000 ‘Too Low’ Amid Rising Adoption, Crypto Trader Says Beyond the recent price action, other warning signs for BTC indicate that reduced network activity could signal waning overall interest in the asset class. However, despite these headwinds, Bitcoin continues to outperform traditional asset classes like gold and stocks. That said, many industry leaders remain bullish on Bitcoin, viewing the current macroeconomic environment as a “generational opportunity” to accumulate BTC. At press time, BTC trades at $88,150, down 7.6% in the past 24 hours. Featured image from Unsplash, Chart from TradingView.com
In a recent interview with Fox Business, Michael Saylor, co-founder and chairman of MicroStrategy, expressed an ambitious vision for Bitcoin (BTC), predicting a substantial increase in its overall market value over the next 21 years. This forecast aligns with MicroStrategy’s ongoing strategy of intensifying its Bitcoin acquisition program, which has significantly influenced the company’s stock performance, linking it closely to Bitcoin’s price movements. Saylor Envisions Bitcoin Price Soaring To $13 Million Bitcoin has already reached a valuation of approximately $2 trillion, with its price hitting a new record of $104,000 on Thursday. However, Saylor anticipates an additional $200 trillion will be added to Bitcoin’s market cap by 2045, driven largely by global inflationary pressures. According to Saylor, many investors are moving away from traditional assets in favor of Bitcoin, viewing it as a viable global monetary asset. He asserts that as more capital flows into Bitcoin, its growth trajectory will outpace equities, gold, and real estate. Related Reading: XRP Downtrend Is Only Temporary: Analyst Gives Reasons Why Price Is Headed For $3.2 Delving into specific price predictions, Saylor posited that bitcoin could reach an astounding $13 million per coin. This would represent a 12,384% growth if Saylor’s predicted scenario comes to fruition, potentially making it the largest currency in the world. Saylor bases this estimate on an analysis suggesting that Bitcoin has historically grown at an average annual rate of 29%. This growth, he argues, could continue, leading to the projected valuation by 2045. NewsBTC previously reported that Saylor believes that Bitcoin represents only 0.1% of the global capital market, but he envisions that figure increasing to 7%. Saylor also provided a detailed analysis of Bitcoin’s growth trajectory, outlining a four-year projection with an average growth rate that might start at 44% and gradually taper down to 30%. Contrary to the perception of Bitcoin as a high-risk asset, Saylor emphasizes its potential as a safe haven for risk-averse investors, highlighting the increasing demand for security in investment choices. MicroStrategy Ramps Up BTC Acquisitions In a recent social media update, Saylor shared the company’s performance following three years of strategic Bitcoin investments. He announced that year-to-date, MicroStrategy’s treasury operations have delivered an impressive BTC yield of 63.3%, resulting in a net benefit of approximately 119,800 BTC for shareholders. At prices of $103,000 per BTC, this translates to an estimated $12.3 billion in returns for the year, positioning MicroStrategy as one of the most profitable and fastest-growing companies operating under the “Bitcoin Standard.” Related Reading: Don’t Fade Dogecoin! – Analyst Says DOGE Is About To Rally On Monday, MicroStrategy revealed that it has significantly ramped up its BTC acquisitions, surpassing the milestone of 400,000 BTC in its portfolio. The company sold 3.7 million shares of its stock, generating around $1.5 billion in proceeds immediately reinvested into Bitcoin. This marks the fourth consecutive week of Bitcoin purchases by the firm. Since November 11, MicroStrategy has invested over $13.5 billion in Bitcoin across three separate transactions, bringing its total holdings to approximately $38 billion, or 402,100 BTC, at an average purchase price of $56,658 per coin. BTC trades at $101,628 at the time of writing, recording a 6% surge in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com
Bitcoin (BTC) appears to be rebounding from its recent pullback after reaching a new all-time high (ATH) of $99,645 on November 22. Despite liquidations exceeding $500 million during the downturn, the event did not trigger the cascading sell-offs seen in previous market cycles. Bitcoin Open Interest Resets: Is $100,000 Next? The flagship cryptocurrency seems ready to make another attempt at the $100,000 milestone. According to crypto analyst Byzantine General, the recent BTC price pullback reset open interest to levels last observed when the asset first touched $90,000. Related Reading: Bitcoin Sell-Side Pressure Dominated By New Holders, Research Shows Critically, Bitcoin held support around $90,875, signaling the potential establishment of a new consolidation phase before the next upward move. Byzantine General stated that BTC is poised to “take out the local highs and potentially take a stab at piercing 100k,” noting: A lot of the passive supply already got taken out in the previous attempt, so there’s a pretty good chance that we will see 100k soon. Byzantine General’s thoughts were echoed by prominent crypto trader Jelle, who said that $100,000 for BTC was “in sight.” The trader shared the following chart where BTC appears to be breaking through a downward-sloping trendline. At the same time, it is also forming an inverse head-and-shoulders pattern – typically a bullish indicator. Another crypto analyst Daan Crypto Trades agreed that Bitcoin is within reaching distance of the $100,000 mark. As previously reported, some analysts believe that BTC is mirroring its price action from 2023, which could see the asset’s price reach as high as $200,000 by early 2025. Healthy Corrections Essential To Fuel Long-Term Growth Bitcoin was trading just above $69,000 on November 6 before surging past its previous ATH and reaching its current price of $97,150 – a staggering 40.8% gain in less than a month. However, such a rapid rally could signal an overextension. Related Reading: Experts Predict Bitcoin Journey To $100,000 After Thanksgiving Rally A slight correction to the low $90,000 level might just have been what was required for BTC to have a more sustained price momentum going forward. Further, it gives time to retail investors – who have been missing from the current market rally – to enter the market and potentially increase the demand-side pressure. The recent price pullback also cooled down the Bitcoin Fear & Greed Index from extreme greed to more moderate levels, setting the stage for a more organic and sustainable rally across the cryptocurrency market. Speaking of long-term forecasts, Pantera Capital founder and managing partner Dan Morehead recently predicted an ambitious price target of $740,000 BTC by 2028. At press time, BTC trades at $97,150, up 1.4% in the past 24 hours. Featured image from Unsplash, charts from X and Tradingview.com
In his latest video analysis titled “BITCOIN’S One Indicator Signaling LAST Major Dip,” Dan Gambardello, a noted crypto analyst with 370,000 subscribers on YouTube, delves into the latest price action of Bitcoin to forecast what could potentially be the final major dip. After dropping as low as $60,000 on Wednesday, the fear of another deeper price crash has grabbed the Bitcoin market. Why This Could Be The Final Leg Down For Bitcoin Gambardello emphasizes the significance of the daily and six-hour charts. On the daily chart, Bitcoin is currently testing the 50-day moving average, a level that often serves as a litmus test for short-term market sentiment. However, the analyst’s main focus is on the six-hour chart’s Relative Strength Index (RSI), a momentum oscillator used to measure the speed and change of price movements, which has hit oversold levels. According to Gambardello, the RSI reaching oversold territory is traditionally viewed as a bullish signal, potentially indicating an approaching end to the current price dip. Related Reading: Bitcoin Price Could Skyrocket To $118,000 By Year-End: Here’s Why “The bottom is actually, I think, close. There could be some type of capitulation in the very short term, but I think there could be a very strong bounce after that happens,” Gambardello noted, suggesting that despite the immediate market turmoil following the Israel-Iran conflict news, the fundamentals point towards an eventual robust recovery. Via X, Gambardello added, “Nothing like a 6 hour oversold RSI at the beginning of bull season. Also great during bull season.” This assertion is grounded in his analysis of past market behaviors during similar conditions, reinforcing the cyclical nature of Bitcoin’s market dynamics. Drawing parallels to historical data, Gambardello highlights the behavioral trends of Bitcoin in previous Octobers, noting a pattern of initial declines followed by strong recoveries by the end of the month. “October will close green. It’s always [like this] with the dip. People are just freaking out. I guess that’s it, but this gives us a little time. We’re getting all these red candles going into October, give us another week, maybe even two and we could get a pump, a breakout to the upside to end October,” Gambardello claims. Related Reading: Will Israel-Iran Conflict Push Bitcoin Further Down? Analysts Discuss Further deepening the analysis, Gambardello discusses the potential scenarios around Bitcoin’s lower trend line, a recurrent support level over the past six months. He speculates that if Bitcoin approaches this trend line again, it could effectively serve as a robust support level, potentially marking the last significant downturn before a sustained upward trend. Notably, one final touch of the trendline could bring down the BTC price as low as $50,000. However, Gambardello thinks that this is a less likely scenario as the 6-hour RSI has already hit oversold territory while BTC is currently bouncing off the 50-day moving average. Moreover, Gambardello refers to Bitcoin’s performance in past halving years, which are typically followed by bull markets, as seen in 2016 and 2020. Gambardello suggests that the current year could follow a similar trajectory. “This is a Halving year. We’ve seen what’s happened in Halving years in 2020 and 2016 in October. Is it going to repeat?” At press time, Bitcoin traded at $60,899. Featured image created with DALL.E, chart from TradingView.com
On-chain analytics firm Spot On Chain’s team of analysts, using Google Cloud’s Vertex artificial intelligence (AI), has conducted an in-depth analysis to forecast the future price of Bitcoin (BTC). Their latest report provides valuable insights into the leading cryptocurrency’s short-, medium-, and long-term outlook. Bitcoin Price Forecasts According to Spot On Chain’s report, Bitcoin prices are expected to fluctuate between $56,000 and $70,000 during May, June, and July 2024. This projected range indicates the potential for market volatility, with a 48% probability assigned to the scenario where BTC prices may dip below $60,000. Moreover, the report advises a cautious approach, acknowledging the possibility of short-term fluctuations or corrections in the price. Related Reading: SEC Anticipated To Reject Spot Ethereum ETFs In Upcoming Decision, ETH Price Takes 5% Hit Spot On Chain’s analysis reveals a significant movement in the latter half of 2024, with a compelling 63% probability of Bitcoin reaching $100,000. This mid-term projection reflects a prevailing bullish sentiment in the market, further fueled by anticipated rate cuts after the Federal Open Market Committee’s (FOMC) December 2023 meeting. These rate cuts aim to bring the federal funds rate down to 4.6% and are expected to boost demand for risk-on assets such as stocks and Bitcoin. Looking ahead to the first half of 2025, Spot On Chain’s modeling indicates a strong probability that Bitcoin will cross the $150,000 threshold. Specifically, a 42% probability is assigned to this scenario, indicating a bullish outlook for Bitcoin’s price trajectory. What’s more, looking at the entire year of 2025, the probability of Bitcoin exceeding $150,000 rises to an eye-popping 70%. Based on historical data and patterns in previous cycles, Bitcoin reached a new all-time high approximately 6 to 12 months after the Halving event. Price Consolidation On The Horizon? Crypto analyst Retk Capital has also provided insights into the current Bitcoin price action, shedding light on key resistance levels and the potential for a consolidation phase before an anticipated parabolic upside. According to Retk Capital’s analysis, Bitcoin has consistently been rejected from the $65,600 resistance level, failing to regain it as a support level. This resistance zone has significantly impeded Bitcoin’s upward movement in recent days, as seen on the cryptocurrency’s daily BTC/USD chart below. Related Reading: HBAR Prices Crashes 35% As BlackRock Denies Any Ties To Hedera Retk Capital further highlights that Bitcoin has been witnessing downside wicks into a pool of liquidity at approximately $60,600. This occurrence has been observed over multiple weeks, indicating the presence of buyers in that price range. If Bitcoin experiences further downward movement, the analyst believes that there is a possibility that it may approach this area once again. The analyst further notes: Price dropping without context can be emotionally challenging. However, understanding that this downside is part of the consolation within a technical range-bound structure that will precede Parabolic Upside makes this experience much more comforting. As of this writing, BTC is trading at $63,900, down nearly 8% over the past two weeks and the same percentage over the past 30 days. Featured image from Shutterstock, chart from TradingView.com