The post 5 Top Reasons To Buy Bitcoin (BTC) In Uptober appeared on BitcoinEthereumNews.com.

The Bitcoin price hasn’t made a great start to October, with the ‘Uptober’ rally not going as planned. However, the flagship crypto still has a long-term bullish outlook, considering several factors both on the macro side and in the crypto space.  In line with this, these are five reasons investors should buy BTC this month. Five Reasons To Buy Bitcoin This Month The five reasons to buy Bitcoin this month include the fact that pro-crypto US presidential candidate Donald Trump is leading in the polls. Meanwhile, despite the US PPI inflation data sparking concerns about a  BTC dip, other macro developments still represent positive Bitcoin news. Lastly, October historically remains a bullish month for the flagship crypto. Donald Trump Is Leading In The Polls The latest Polymarket data shows that Donald Trump is leading in the polls. The former US president has a 54.1% chance of winning the upcoming November 5 elections, while Kamala Harris’ odds are 45.4%. This is bullish for the Bitcoin price as Donald Trump has publicly declared his support for the flagship crypto and other cryptocurrencies. In line with this, Bernstein analysts predict that BTC could rise to as high as $90,000 if Trump wins, which will mark a new all-time high (ATH) for the flagship crypto. However, it is worth mentioning that the flagship crypto will still likely hit a new ATH even if Trump doesn’t win. Historically, Bitcoin has hit a new ATH after the last two US presidential elections. A plausible explanation is that the aftermath of the elections usually brings about market certainty. China’s Stimulus Package Is On The Way According to a CNBC report, some economists predict the Chinese government could announce an additional stimulus package this weekend to help revive the country’s economy. There are predictions that the government could…

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Filed under: News - @ October 11, 2024 11:22 pm