Bitcoin (BTC) crossed $122,000 on Friday as it maintained its upward 0 flagship cryptocurrency rallied to nearly $124,000, thanks to surging institutional demand, shifting Federal Reserve policy, and investor optimism about a bullish 1 faced volatility on Friday as it rose to an intraday high of $123,996 before settling at $122,318. Analysts believe the rally will continue and the price will hit a new all-time high. Bitcoin’s Four-Year Cycle May Continue In Some Form Gemini’s head of the APAC region, Saad Ahmed, believes Bitcoin’s four-year cycle could continue in some 2 added that while the cycle may not play out as it has in the past, it doesn’t mean the concept is dead.
“I think when it comes to the four-year cycle, the reality is that it’s very likely that we’ll continue to see some form of a 3 ultimately stems from people getting really excited and overextending themselves, and then you kind of see a crash, and then it kind of corrects to an equilibrium.” However, Ahmed stated that growing institutional involvement in crypto could help the market absorb some volatility. “You’ll see some of the volatility, kind of a flag off, but you’ll still see some sort of a cycle, because ultimately, it’s driven by human emotion.” However, analyst Rekt Capital believes October marks Bitcoin’s cycle peak if previous patterns 4 Capital had stated in July that if BTC’s current cycle mirrors 2020, the market will peak in October.
“We have a very small sliver of time and price expansion left.” Analyst Predicts Massive Bitcoin Rally Analysts are becoming increasingly optimistic about Bitcoin’s (BTC) prospects in 5 to one team of analysts, Bitcoin could reach $143,000 this month, a 20% 6 such a prediction may seem almost outlandish, historical data shows that October is one of the most bullish months for the flagship 7 the past 12 years, BTC has closed in positive territory 10 8 a positive end to September, Bitcoin is poised for a fruitful 9 four out of four instances when BTC closed September and October positively, the trend continued in 10 Price Analysis Bitcoin (BTC) is eying the $124,000 level after reaching an intraday high of $123,996 on 11 sentiment around the asset has surged thanks to surging institutional interest, shifting Federal Reserve Policy, and rising open 12 believe BTC could go into price discovery if bullish sentiment persists, potentially rising towards $130,000.
One of the most prominent drivers of the latest rally is the US government shutdown and the market’s indifferent 13 agencies have started to furlough staff, and key economic data and report releases are facing 14 has directly benefited from the shutdown as traders position themselves to deal with the lack of clear policy 15 shutdown has also complicated matters for the Federal Reserve, as inflation and jobs data could be delayed, leading to speculative inflows into Bitcoin and other 16 analysts stated, “Bitcoin’s movement toward a new all-time high appears genuinely 17 suspect that Trump’s announcement of potentially considering a stimulus cheque for every citizen, funded by tariffs, could also contribute to a further rise in Bitcoin’s 18 could mirror what we witnessed following the COVID stimulus cheques.
Meanwhile, steady ETF inflows provide a clear tailwind.” On-chain data has confirmed the recent surge is driven by demand, with analysts highlighting a taker buy volume spike of over $1.6 billion in one hour across 19 ended the previous weekend in the red, dropping 0.41% to $115,282 on 20 pressure intensified on Monday as the price fell by over 2% to $112,736. Sellers retained control on Tuesday with BTC falling 0.64% to a low of $111,502 before settling at $112,017. Despite the overwhelming selling pressure, BTC recovered on Wednesday, rising over 1% to reclaim $113,000 and settling at $113,348. Bearish sentiment returned on Thursday as BTC plunged nearly 4%, slipping below $110,000 and settling at $109,035.
BTC recovered on Friday, rising 0.61% but was back in the red on Saturday, registering a marginal decline and settling at $109,681.
Story Tags
Latest news and analysis from Bitzo
