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 <p class="paragraph">After weeks of trading within a narrow range, Bitcoin (BTC) surged above the $28,000 milestone on Monday, October 2, marking its first ascent beyond this level since mid-August.&nbsp;</p> 
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 <p class="paragraph">This breakthrough followed BTC’s successful breach of the critical resistance and a month-long period of accumulation by <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> investors.&nbsp;</p> 
 <p class="paragraph">But this may be only the beginning of a substantial bull run for BTC, according to a prominent <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency <a rel="noopener noreferrer nofollow" title="expert" href="https://thebittimes.com/tag/expert.html">expert</a>.&nbsp;</p> 
 <p class="paragraph">Notably, popular trader and analyst Michaël van de Poppe believes October and the whole Q4 of 2023 could bring back optimism among investors, primarily due to potential spot Bitcoin exchange-traded fund (ETF) approvals and the typical pre-halving price surge.</p> 
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  <p class="paragraph">“Welcome to Uptober. Welcome to Q4, which is leading towards a great quarter, potentially fueled by ETF approvals and the pre-halving rally.”</p> <cite>– Poppe wrote in the tweet. </cite> 
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 <p class="paragraph">Assuming these would pan out as anticipated, a potential surge to as high as $40,000 in Q4 “is reasonable” for Bitcoin, Poppe added, implying a possible upside of more than 40% from the current price.</p> 
 <h2 class="wp-block-heading" id="long-way-to-40000">Long way to $40,000</h2> 
 <p class="paragraph">However, before Bitcoin potentially rallies to $40,000 – a level not seen since April 2022 – there are several major hurdles to clear first.&nbsp;</p> 
 <p class="paragraph">One of them is reclaiming the $30,000 mark.</p> 
 <p class="paragraph">Bitcoin’s surge above the $28,000 level comes after <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency sharks and whales – investors holding between 10 and 10,000 BTC – accumulated a combined $1.17 billion since September 1, behavior analytics platform Santiment revealed on Monday.&nbsp;</p> 
 <p class="paragraph">Unless these investors begin dumping their BTC holdings, the world’s biggest <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency’s return to $30,000 “looks more and more likely,”<em> Santiment </em>added.&nbsp;</p> 
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  <img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://lh5.googleusercontent.com/8OBw9gbd4TIIwuieBS15Z0pFs6jz3nysE7CkiEsB_r3VoTFBhL4z07no2NLk1sTmLJ1VEe1pMcxFNtv8wUjBiF8Uflkxhc9GMYfX12EUZvzaZOINyVBkLSAHpd1K3PUIkmtvxEfm_Mws9yoIadv5uwE" alt width="834" height="528"> 
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    Crypto whales and sharks accumulated 41,510 BTC since Sep. 1. Source: Santiment 
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 <p class="paragraph">BTC hasn’t traded above $30,000 since July as hawkish Federal Reserve remarks and SEC’s delays of ETF decisions led to increased market uncertainty and lack of optimism in recent months.&nbsp;</p> 
 <p class="paragraph">But as soon as October dawned, which was historically a significantly bullish month for crypto, confidence among investors returned, propelling Bitcoin above an important barrier.&nbsp;</p> 
 <h2 class="wp-block-heading" id="bitcoin-price-analysis">Bitcoin price analysis</h2> 
 <p class="paragraph">At the time of publication, BTC was changing hands at $28,383, up 4.8% in the past 24 hours.</p> 
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  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh4.googleusercontent.com/EBhEgAs4QlWqgX0aDHhudHD0cMF2fRWPHv9oacmBZMItUskndDQ5q8pUDGBKe99O9om65BeDSvPD4WGHjToS14v-Dx7Al6nzAO0wCZn1OZx1Um4ogC5dT1GcI6XXcLxc0PDu55dchQZikHJVQaWPjjY" alt> 
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    BTC 1-day price chart. Source: Finbold 
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 <p class="paragraph">The maiden crypto asset gained around 8.8% in the past week and over 10% in the month, adding almost $50 billion in market cap during that period.</p> 
 <p class="paragraph">With its latest price surge, BTC pierced through a major confluence resistance zone between $28,042 and $28,234, formed by the 200-day simple moving average (MA) and 100-day simple moving average, respectively, which now act as support.&nbsp;</p> 
 <p class="paragraph">Staying above those levels would allow bulls to attack the psychological $30,000 threshold, followed by another resistance area at $31,092 – $31,830.&nbsp;</p> 
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-to-40-000-reasonable-in-q4-says-crypto-expert-tbt64792.html">https://thebittimes.com/bitcoin-to-40-000-reasonable-in-q4-says-crypto-expert-tbt64792.html</a></p>

‘Bitcoin to $40,000 reasonable’ in Q4, says crypto expert

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