Several factors are expected to influence Bitcoin's price in the next 8 weeks.
- Technical Indicators: Currently, 7 out of 17 technical indicators suggest buying, while 7 indicate selling, and 3 are neutral. The Relative Strength Index (RSI) is at 26.37, indicating oversold conditions, which may lead to a price increase in the near term.¹
- Support and Resistance Levels: Bitcoin is trading within a range of $90,907 to $94,381. If the price breaks above $94,381, it may reach $99,449 or $103,491. On the other hand, if it falls below $90,907, the price may drop further.
- Historical Trends: Analyzing monthly performance data, October has been the best month for Bitcoin in the last 12 years, with the price increasing 10 times. In contrast, August has been the worst month, with the price decreasing 8 times.
- Price Predictions: Some predictions suggest that Bitcoin's price may reach $96,281 in the next 10 days and $221,485 by the end of 2025. However, please note that these predictions are subject to change and should not be taken as investment advice.
Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. These factors should not be considered as investment advice, and it's essential to do your own research before making any investment decisions.