CandleFocus Bitcoin’s Bearish September May Be Its Best Since 2013 Ahead of Bullish October
2024-09-30
Author: Content Editor
Bitcoin is defying its historical trend of negative returns in September by recording a gain of at least 9%. This puts the cryptocurrency on a stronger footing going into October, which has traditionally been a bullish month for bitcoin. Current market conditions, including global monetary policies and U.S. political support, suggest that bitcoin could potentially reach $70,000 from its current level of around $64,000. In contrast to September, October has only seen two negative months since 2013, with gains as high as 60% and an average of 22%. The positive trend in September is attributed to factors such as global monetary easing policies, increased institutional investment in bitcoin, and favorable sentiment from both political parties in the U.S. These factors are expected to continue supporting bitcoin's price in the near term.
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