Bitcoin Continues to Disappoint Investors. Despite Positive Forecasts, BTC Is Dangerously Far From $60,000
We explain why BTC failed to make a successful start in October and when, according to one of the most respected analysts in the crypto community, Bitcoin will manage to reach $135,000
Bitcoin started October with a fall, contrary to the expectations of the crypto community. BTC demonstrated negative dynamics against the backdrop of the escalation of the conflict in the Middle East. On October 4, the coin resumed growth, which three days later led it to $64,500. After that, Bitcoin fell again. As of the time of writing, BTC is trading at $60,858.
Bitcoin has failed to maintain its positive momentum despite plans to further reduce the Fed's key interest rate, the hype around the HBO film about Satoshi Nakamoto, and the upcoming US presidential election, which could be won by crypto community supporter Donald Trump. The coin is not helped by the distance from the halving, which was supposed to trigger the growth of BTC by creating a deficit of cryptocurrency on the market.
Popular crypto analyst Peter Brandt, who managed to correctly predict the crypto winter of 2018 and many other Bitcoin movements, believes that the coin will still have time to surprise investors. According to his calculations, Bitcoin will reach $135,000 by August or September 2025. The analyst believes that the forecast could be cancelled if BTC drops to $48,000
Back in August 2024, Brandt doubted that BTC would ever be able to update its maximum. However, the growth of the cryptocurrency in early autumn forced the analyst to reconsider the prospects of Bitcoin.
Brandt's forecast was supported by early Bitcoin follower Thor Demester. According to him, BTC is separated from a bull run by resistance, which may fall in the near future.$BTC