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Analysis: Bitcoin is expected to hit $70,000 in October

Bitget2024/09/30 08:13

According to CoinDesk, Bitcoin is expected to achieve at least a 9% increase in September, breaking the negative return trend for this month since 2013 and laying a strong foundation for the upcoming October. Historical data shows that an increase in September often signals further growth in October, November, and December. In contrast, since 2013, there have only been two losses in October with an average increase of 22%. Against the backdrop of current global monetary policy and U.S. political support, market analysts predict that Bitcoin has the potential to rise from about $64,000 to $70,000 starting a bull market cycle. Seasonal factors also indicate that as demand increases investor confidence in Bitcoin is expected to continue strengthening.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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