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While Bitcoin is being traded at a price of 67,000 dollars, there are those who speculate on a year-end rally with an ambitious scenario for BTC. The overall situation for the cryptocurrency is particularly positive, with several indicators suggesting a possible price increase in the short term. Various market analysts are starting to aim for 1000,000 dollars by the end of the year, while attention is growing worldwide for cryptographic products. Let’s see all the details below. Bitcoin enters the last quarter of the year: new rally coming for the price of BTC  Bitcoin opened Q4 with a price above $60,000, recording a moderate increase of 2.5% in the previous quarter. The cryptocurrency has been trading for several months now in the range from 70,000 to 50,000 dollars per BTC, without taking a clear direction. The third quarter was particularly complex, given that several negative factors came into play that weighed negatively on its price. The various failures reported in the industry, including that of Mt. Gox which saw billions of dollars in Bitcoin returned to creditors, have not favored a bull price dynamic. Even the liquidations of cryptocurrency holdings by Germany and United States have had a negative impact, generating fear and uncertainty among investors. Nonetheless, Bitcoin has managed to smoothly overcome various challenges, showing significant strength in protecting the price from the market’s black swans. Now BTC has just entered the phase of the year that historically is favorable for the rise in prices. Consider that in Q4 2020, it increased by 172%, subsequently inaugurating the bull market of 2021 with further rises. Usually, the summer period tends to be bearish for the currency, while the more bullish months are those coinciding with the winter season. As of today, Bitcoin is confirmed as the asset class with the…

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Filed under: News - @ October 17, 2024 12:26 pm