The main cryptocurrency of the Web3 world, Bitcoin, is once again back in the mainstream. BTC has recently touched $60K, reigniting hopes that the crypto can soon touch the $70K mark again and perhaps breach it in the long run. Will BTC be able to do that? Let’s find out.
Also Read: Donald Trump Buys Burgers With Bitcoin in Seconds!
Bitcoin Peak and Fall
Bitcoin is currently trading at $62K. The Federal Reserve recently announced its decision to cut rates by 50 BPS, which had a positive impact on the crypto market. After the announcement, significant assets except gold stabilized in price.
Similarly, with Bitcoin hitting the $62K mark, investors are now looking forward to its peak or when the token will enter a bullish cycle again.
One notable analyst, OxNobler, took to X to share a new hypothesis: that the peak Bitcoin season is almost here.
According to the expert, the next bull run will surprisingly begin in October 2024. The analyst later shared how Bitcoin peak patterns show that BTC usually gains positive momentum 170 days after the Bitcoin event.
In simpler terms, OxNobler shared how BTC will claim its cycle 170 days after having. The token will then peak 310 days later after the event, meaning October may be a bullish month for BTC. With BTC topping charts, the altcoin market may also surge, giving lucrative returns to several 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 $SOL by following this pattern. Today, I’m buying other alts with 100x potential👇”
The next bull run starts in October 2024 🔥$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👇🧵 pic.twitter.com/RhvbhzRXL4— 0xNobler (@CryptoNobler) September 17, 2024
Also Read: AI Sets Ripple (XRP) Price For September 25
The Token’s Price Prediction for Mid-October.
According to a leading crypto analytics platform, CoinCodex, Bitcoin may surge up to $84K by October 19, rising 36% in the process.
“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.”
The token is currently portraying a bullish sentiment, with buy signals urging investors to explore BTC in a secure manner.
Also Read: Cryptocurrency: 3 Coins That May Give Short Terms Gains By 2024 End
