Spooky season is around the corner. While the cryptocurrency industry has been scaring investors for a while now, the community eagerly awaits to see how these assets will perform during Halloween.
The holiday is more special for the cryptocurrency market as it also marks the day that the pseudonymous creator of Bitcoin, Satoshi Nakamoto, shared the Bitcoin (BTC) white paper with a mailing list of cryptographers.
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Bitcoin’s Performance And Predictions For Halloween
Following a fairly good run over the past month, Bitcoin was seen struggling. The asset failed to maintain itself over the $64,000 mark. It should be noted that the asset plunged as low as $60,000 earlier this week. BTC was trading at $62,525.48 at press time, following a 2.17% decrease over the past 24 hours.
Uptober: A Bullish Month For Bitcoin
Despite its current situation, Bitcoin is expected to witness a bullish month. This is because the king coin has pocketed strong returns during October, which is often dubbed “Uptober.” The latter part of the month, or the second half, is typically seen as quite bullish, while the first half is usually slower.
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Can Bitcoin Hit $100K?
Thanks to the “Uptober” fever, extremely bullish predictions have surfaced. The king coin is expected to surge to a maximum price of $79,208. According to Changelly, the asset will maintain an average price level of $71,417.
While this is nowhere close to $100,000, the asset is hitting a new all-time high. BTC hit a peak of $73,750 about seven months ago and is currently 15% below this level.
Alongside this, Stephen Maitland, the man behind Gold IRA Investment Guy, told Finbold,
“I project Bitcoin could land between $65,000 and $85,000 by Halloween 2024. With factors like the April 2024 halving and continued institutional interest around Bitcoin ETFs, prices are poised for a potential upward trend, similar to previous bullish Octobers.”
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