Will Bitcoin Break a Record? Analyst Points to This Date, Says Weeks Away
Bitcoin (BTC) is currently not showing any momentum and its sideways movement continues. The market's largest cryptocurrency seems to be stuck in the $60,000 to $62,000 range. However, many analysts and investors believe that there will be a big jump in the Bitcoin price and maintain their faith in the "Uptober" theory.
One of these names is well-known cryptocurrency analyst Jelle, who evaluated the current market situation and shared a big price prediction for Bitcoin. The analyst stated that the consolidation periods seen in the bull markets in the summer months usually end in the last 10 days of October.
Is a new Bitcoin peak coming?
Jelle thinks that the "chop" phase, in which Bitcoin frequently experiences declines, may also end towards the end of October 2024. If history repeats itself, the analyst, who claims that Bitcoin could be in for a major price breakout, predicts that a new all-time high (ATH) could be seen in the next two to three weeks.
Jelle said that the current Bitcoin chart is ready for a potential bull run and that this rise could be triggered soon. Bitcoin’s current all-time high is around $73,780. This record was broken in March of this year after Bitcoin Spot ETFs were launched in January. Now, Jelle expects a new peak in late October or early November.
Stay tuned for new information.
