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We saw a nice Bitcoin surge overnight. Currently trading at $71K, itβs just 3% shy of its all-time high. π
According to Bloomberg, this rally is being driven by two key factors: strong capital inflows into spot Bitcoin ETFs and speculation around the upcoming U.S. presidential election.
β«οΈ Big Buy Alert: Yesterday, U.S. investors added $479.35M to Bitcoin ETFs β the highest influx in two weeks.
β«οΈ October Inflows: Capital inflows into Bitcoin ETFs topped $3.6 billion this month.
β«οΈ Forecast: Bitcoin could reach $80K by late November if the options market data holds up.
Is $80K on the horizon? What do you think β just hype, or are we about to break new ground?
07/09/2024
ππ-ππππππππ πππ ππππ ππππππ ππ
πππ & ππππππππππ ππππππ πππππππ.
As of the time of making this post, BTC is down by -9%.
The current DIP of BTC and the entire crypto market has raised concerns as most investors are in panic.
Is this the end of the bear market or should we expect more DIP?
To get the answers to the above questions, read to the end...
To answer the above questions is crucial we re-visit the past trends of BTC from 2017.
When Bitcoin retraced -7% in September in 2017...
Bitcoin rallied +47% in the following October
When BTC retraced -7% in September in 2020...
BTC rallied +27% in the following October
When BTC retraced -7% in September in 2021...
BTC rallied +39% in the following October
Bitcoin is currently down -9% this September
From all indications, BTC is likely to surge to 50% in October 2024.
From all indications, BTC is likely to surge to 50% in October 2024.
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