September 2024 was the best month on record for Bitcoin, despite historically being a negative period.
Ahead of us is October, on the contrary, a historically extremely successful month for Bitcoin. During the entire existence of the cryptocurrency, October only closed in the minus twice. The average BTC growth was 23%. If we take this yield as a basis, then #BTC will cost around $78,000 in a month.
I have mixed expectations for October so far. There is still a risk of a recession in the US, and I am also a little nervous that the total number of unique active BTC addresses has been steadily declining since March of this year, which is a negative sign.
On the other hand, October is a fundamentally strong month and in anticipation of the US elections we may see new records, the main thing is to consolidate above $66,000. This level has not been held yet, and given the current market conditions and weak demand in the market, in the short term it is extremely important to maintain the $62,000 level, as it represents the average realized price for short-term holders.
Therefore, maintaining the uptrend that has formed in recent days depends on whether Bitcoin remains above the critical $62,000 level...
