Bitcoin

If History Repeats Bitcoin (BTC) Can Surge To This Level By Mid-October

Author: Qadir AK

Qadir AK right arrow

Author

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

  • author facebook
  • author twitter
  • linkedin

The start of the new week has been mixed, with some coins in the red and others in the green. Amid mixed market signals, the top cryptocurrency, Bitcoin, is trading sideways and keeping a small trading range between $18,937 and $19,648. 

However, the BTC price was able to maintain steady throughout the weekend, which suggests that the asset class could have a bullish week. The cryptocurrency has been unable to recapture and flip the region north of $20,000 back to support for the past month, remaining in a narrow range.

Bitcoin ended the third quarter of this year down 2% from the second, according to data provided by CryptoRank. The same figures suggest that, at least in contrast to the end of September, the main market cryptocurrency quotations may close in the green by the beginning of October and the final three months of 2022.

BTC has only experienced a final-quarter decrease three times since 2013 — in 2014, 2018, and 2019. For the subsequent six years, Bitcoin typically ended the day in the black, occasionally by as much as 200% and 400%. Even at the beginning of the current bear market, in December of last year, the price of bitcoin managed to increase by 5.6% by the end of the fourth quarter

Sell-offs On The Way?

Willy Woo, a crypto specialist, said that the market structure today is very different from what it was in the past. In light of the fact that a number of hedge funds entered the market during the past two years, the expert claims that we have not yet witnessed significant sell-offs.

The price of Bitcoin has, however, recovered off the $19,000 level despite the fact that it is still trading in a wide range, and buyers are attempting to seize the initiative. By mid-October, if the trend keeps up, another upward movement should be anticipated.

Show More

Was this writing helpful?

No Yes

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Related Articles

Back to top button