Will the Rally Continue After Bitcoin’s Recent Surge? Expert Comments

Bitcoin has been showing a strong rise since the beginning of October, confirming the phrase “Uptober” frequently used by cryptocurrency ￰0￱ of today, the Bitcoin price has climbed above $123,000, just a few hundred dollars shy of its all-time high recorded in ￰1￱ has been trending upwards for the past five days. Bitcoin's steady appreciation despite market volatility caused by the US government shutdown was driven by a report published by JPMorgan ￰2￱ report predicted that Bitcoin could reach $165,000 by the end of the ￰3￱ argued that Bitcoin stands out as a hedge against the devaluation of fiat ￰4￱ News: Two Top Officials at the Federal Reserve, Jefferson and Logan, Discussed Interest Rate Cuts and the ￰5￱ Crypto advocates have long argued that Bitcoin's decentralized nature can provide a safe haven during times of government-driven uncertainty.

Investors' recent interest in Bitcoin, particularly in the face of threats of new tariffs, supports this ￰6￱ has stated that Bitcoin is still “undervalued” compared to traditional hedges like gold. Bitcoin's rally is being accompanied by other cryptocurrencies, with Ethereum rising nearly 9% in the past week, reaching $4,500. However, not everyone is as optimistic as ￰7￱ Blume, CEO of investment advisory firm Two Prime, described this rise as a “fragile rally.” Blume said the rise could be due to expected market movements in the final quarter of the year, adding that the increased money supply coupled with the Fed's interest rate cuts provides a clear advantage for Bitcoin. *This is not investment ￰8￱ Reading: Will the Rally Continue After Bitcoin’s Recent Surge?

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