Bitcoin in October: Historical Growth and Optimistic Forecasts
Date: 2023-10-02 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
Bitcoin in October: Historical Growth and Expectations
Bitcoin, the most popular cryptocurrency, enters the month of October with optimistic expectations. In this article, we will explore historical data, analyst forecasts, and factors that may impact its price.
Since 2013, Bitcoin has ended October with price growth in eight out of ten cases, making this month particularly interesting for investors and traders. This positive trend boosts confidence that October 2023 could be a favorable period for Bitcoin.
Crypto analyst Michael van de Poppe has expressed optimism regarding October and the expected successful quarter. His forecast of Bitcoin reaching $40,000 has garnered interest among investors and traders.
Bitcoin Accumulation: Whales Prepare for Growth
Long-term prospects for Bitcoin also look promising due to active accumulation by whales and sharks. According to Santiment data, large holders, owning between 10 to 10,000 BTC, have accumulated a record amount of Bitcoin in the current year - 13.03 million BTC. This reflects the belief of major players in Bitcoin's price growth potential.
Additionally, whales holding Tether (USDT) are also increasing their buying power. Wallets with balances ranging from $100,000 to $10 million now hold a total of 15.03 billion USDT. This factor further confirms the interest of crypto capitalists in assets tied to Bitcoin.
These data fuel optimism within the crypto community and underscore the possibility of Bitcoin's growth in October and the upcoming quarter.
Combining historical October success, optimistic analyst forecasts, and the accumulation by major investors, it can be concluded that Bitcoin remains in the spotlight and may continue to demonstrate growth in the near future. This could provide investors and traders with new opportunities for profit in the cryptocurrency market.
