BTC’s average October return of 22.90% could push its price to $79,000, topping its previous ATH.
Breaking Bitcoin's previous ATH of $69,000 may clear resistance levels, accelerating a possible price surge.
A $79,000 target in October could set up a move for Bitcoin in November, continuing its upward movement.
BTC’s price performance in October could set the step for a breakthrough, with market data showing an average return of 22.90% for the month. If the cryptocurrency shares a similar 22% price increase this October, BTC will hit a price point of approximately $79,000. This would not only exceed its earlier ATH but could also break resistance levels, possibly initiating a curved move into November.
Potential Impact of a 22% Bitcoin Pump
According to Lark Davis post via the X Space, if BTC reaches the predicted $79,000, it would mark a key moment for the cryptocurrency market. The previous ATH of Bitcoin stands at around $69,000, achieved in November 2021.
https://twitter.com/TheCryptoLark/status/1839315286320673118
A 22% pump would mean Bitcoin crossing the $69,000 threshold, clearing technical barriers in the process. Historically, such breaks have often led to increased momentum, drawing more attention and capital to the market.
Resistance Levels and Parabolic Move Setup
Breaking past $69,000 could lead to an effect where Bitcoin continues its upward trajectory by breaking further resistance levels. Notably, $75,000 is considered another major resistance point.
Once Bitcoin crosses that mark, the path to a figurative move in November becomes more likely. Historically, November has been a strong month for Bitcoin’s performance, and with the digital asset already on an upward trend, these gains could accelerate further. While the 22% price increase is not assured, the historical movements and data provide an event where Bitcoin will reach new heights in the coming months. A move to $79,000 would set the stage for even more developments in November, which could lead to a broader cryptocurrency market surge.
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