bullish

Bitcoin

Bitcoin investors are preparing for an eventful week with claims that BTC could reach record levels this week.
October has historically been a bullish month for cryptocurrencies, and some analysts are predicting a similar trend this year.
Over the past decade, Bitcoin has gained an average of 90% in the fourth quarter, according to CoinMarketCap.
“Expect fireworks,” David Brickell, head of international distribution at FRNT Financial, and former forex trader Chris Mill wrote in their newsletter “Connecting the Dots.” They believe Bitcoin could reach new all-time highs in the coming days as market conditions become ripe for a major rally.
The bullish outlooks are reflected by activity on Deribit, where options that will pay out if Bitcoin surpasses $100,000 by Dec. 27 are the most traded options, pointing to strong market optimism for a new peak before the end of the year.
There are two major factors fueling this bullish sentiment: China’s economic stimulus and the Fed’s upcoming moves. Beijing has recently launched a series of initiatives to stimulate its economy, including issuing $284 billion in bonds and cutting reserve requirements by 0.5% for banks. Analysts expect these moves to inject significant liquidity into global markets, further boosting Bitcoin’s price.
Related News: <a href="https://en.bitcoinsistemi.com/is-another-50-basis-point-cut-coming-from-the-fed-bostic-made-a-statement/" target="_blank" rel="noopener noreferrer nofollow">Is Another 50 Basis Point Cut Coming From The FED? Bostic Made a Statement</a>
Following these announcements, Bitcoin rose 5% to $66,300, its highest level since July. The price has since settled around $63,000, but market watchers remain optimistic that further gains are imminent.
Investors are also awaiting Fed Chairman Jerome Powell's speech to the National Association of Business Economics on Tuesday and the latest U.S. employment data due on Friday.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/two-analysts-claim-bitcoin-price-could-break-record-this-week-here-are-the-details/" rel="noopener noreferrer nofollow">Two Analysts Claim Bitcoin Price Could Break Record This Week – Here are the Details</a>

Two Analysts Claim Bitcoin Price Could Break Record This Week – Here are the Details

Bitcoin Sistemi EN

Other articles published on Sep 30, 2024

Legal Experts Affirm: Selling Mining Equipment Poses No Regulatory Issues if Users Mine Themselves

Taiwan Grants Bitcoin ETF Access to Professionals

Baby BNB Price Prediction: BABY Pumps 43% After Changpeng Zhao Tweet As This PEPE Upgrade Rockets...

Crypto market hits Monday blues ahead of September economic data

Matrixport Acquires Crypto Finance Asset Management AG to Expand in Europe

Singaporean Crypto Company Matrixport Acquires Swiss Crypto Asset Management Company! Here Are th...

Join our free newsletter for daily crypto updates!