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<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/bitcoin-price-prediction-for-q4-2023/">Bitcoin Price Prediction for Q4 of 2023: Is Now the Right Time to Buy?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> approaches its second decade, experts’ opinions on its potential price surge are widely divided. The upcoming Bitcoin halving, approximately 230 days away, is expected to impact the ongoing bull market. </p> 
<p>However, predicting the extent of this surge remains challenging due to limited historical data and evolving regulations. Renowned crypto analyst Jason Pizzino provides his perspective on the matter.</p> 
<p>While avoiding precise price targets, Pizzino indicates the bear market’s end and anticipates Bitcoin surpassing $42,000. However, it’s essential to take his advice with caution, as he further warns against potential corrections similar to past bear markets. He suggests the possibility of Bitcoin and the S&amp;P 500 experiencing a dip at the start of <a href="https://coinpedia.org/price-analysis/did-uptober-clam-down-in-a-hurry-is-there-any-reason-to-be-optimistic-about-the-crypto-markets/">October</a> before transitioning into a bullish phase. </p> 
<p>Let’s delve deeper into his bear and bull theory.</p> 
<h2 class="wp-block-heading" id="strong-dollar-cost-averaging-opportunity-strong"><strong>Dollar-Cost Averaging Opportunity</strong></h2> 
<p>Pizzino explains that the period in Q3 of 2023 and early Q4 in 2024 might be a prime time for dollar-cost averaging (DCA) into Bitcoin. Nevertheless, he cautions that there’s still overhead resistance, particularly at the $23,600 level, which represents the cycle low to the current first range out.</p> 
<p>Read More: <a href="https://coinpedia.org/news/brian-armstrongs-2024-bitcoin-price-prediction-get-ready-for-the-next-crypto-bull-run/">Brian Armstrong’s 2024 Bitcoin Price Prediction: Get Ready for the Next Crypto Bull Run</a></p> 
<h2 class="wp-block-heading" id="bitcoin-and-the-strong-sp-500-strong">Bitcoin and the <strong>S&amp;P 500</strong></h2> 
<p>Pizzino also turns his attention to the S&amp;P 500 (SPX) and its potential correlation with Bitcoin’s performance. The S&amp;P 500 remained stable, reflecting concerns about potential Fed interest rate hikes in the last quarter. Federal Reserve Governor Michelle Bowman signaled readiness for further rate hikes if inflation progress falters. </p> 
<p>The market now seeks more evident signs of improved earnings and Fed policy direction before the halving. However, all significant indexes reported losses for September and the last quarter.</p> 
<h2 class="wp-block-heading" id="strong-key-resistance-levels-for-bitcoin-strong"><strong>Key Resistance Levels for Bitcoin</strong></h2> 
<p>With the halving approaching, uncertainty looms over the market. Analysts offer varied forecasts, and technical indicators offer mixed signals. Regarding short-term movements, Pizzino envisions a positive September for Bitcoin, followed by a swift drop to around $23,630 in October. However, he doesn’t discount the possibility of a higher close at $28,518. To confirm a massive bull market cycle, Bitcoin needs to overcome key resistance levels.</p> 
<p>For Bitcoin, Pizzino is closely watching several critical resistance levels. He highlights $28,500 as the tip of an iceberg for a potential consolidation, boosting the hope of further positive moves. Beyond that, key levels include $32,000, $35,000, $38,000, and the psychologically significant $40,000.&nbsp;</p> 
<p>Also Read: <a href="https://coinpedia.org/news/bullish-q4-has-began-say-hi-to-uptober/">Bullish Q4 Has Began, Say Hi To Uptober!!</a></p> 
<h2 class="wp-block-heading" id="strong-current-market-status-strong"><strong>Current Market Status</strong></h2> 
<p>Presently, the S&amp;P 500 is worth 4,288 points. Bitcoin fell 1.5% to $27,522 in 24 hours. If Bitcoin meets its early October promise, it might easily hit $28,000, signaling an upward trend. This follows tech-heavy Nasdaq and S&amp;P 500 gains. Markets are recovering after a last-minute deal prevented a U.S. government shutdown.</p> 
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Bitcoin Price Prediction for Q4 of 2023: Is Now the Right Time to Buy?

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