2024

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<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-btc-price-could-reach-ath-by-october-2024/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Could Reach ATH by October 2024</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p><a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin (BTC) price</a> opened the last week of January on a better note than the past few weeks after the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States. With Bitcoin price closing last week on a hammer candlestick pattern, the recent bearish sentiment emanating from frequent large BTC deposits to crypto exchanges by Grayscale Investments has significantly reduced.</p>
<p>As a result, the possibility of a double-top reversal pattern that was gradually forming has similarly decreased. If the Bitcoin price stays above $41k in the coming weeks, another bullish trend could happen anytime.</p>
<h2 class="wp-block-heading" id="h-bitcoin-price-rally">Bitcoin Price Rally</h2>
<p>According to a popular digital asset analyst, MikyBull Crypto, on the X platform, Bitcoin price is well positioned to reach a new all-time high (ATH) based on technical and fundamental aspects by October this year.</p>
<p>Notably, the crypto analyst based the bullish approach on the established four-year cycle marked by the halving events. With about 12,075 Bitcoin blocks left until the next halving event, MikyBull Crypto is confident the short-term resistance level around $44k will soon be cleared. Moreover, global liquidity has already bottomed out, and a fresh cycle has begun.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> in a short-term perspective heading towards the resistance at $44k for a possible macro correction before heading to a new ATH.<br><br>If it closes above the resistance of $44k on a macro weekly TF then the uptrend to a new ATH will resume.<br><br>4/4 <a href="https://t.co/CHY9nI5iwF" rel="noopener noreferrer nofollow">pic.twitter.com/CHY9nI5iwF</a></p>— Mikybull <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1751582980466778517?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 28, 2024</a>
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<h2 class="wp-block-heading" id="h-btc-price-analysis">BTC Price Analysis</h2>
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   <p lang="en" dir="ltr">Addresses with less than 1 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> were all in a downward trend since the 49k top. <br><br>Now, all seem to have bottomed out, with more signs of consolidation around 40k. <br><br>I also think some of this is due to UTXO consolidation. <a href="https://t.co/z3FCSOR0US" rel="noopener noreferrer nofollow">pic.twitter.com/z3FCSOR0US</a></p>— James Van Straten (@jvs_btc) <a href="https://twitter.com/jvs_btc/status/1751576548191396196?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 28, 2024</a>
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<p>After several weeks of accelerated profit-taking by short-term holders and miners, on-chain data shows Bitcoin holders have dramatically reduced their profit-taking. Moreover, the Bitcoin demand from institutional investors is expected to rise exponentially in the coming months as the supply rate gets chopped. Meanwhile, Bitcoin bulls could suffer short-term weaknesses if the crypto cash rotation continues to favor altcoins led by Ethereum.&nbsp;</p>

Bitcoin (BTC) Price Could Reach ATH by October 2024

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