<p>October has historically been a favorable month for Bitcoin. In October 2023, the Bitcoin market experienced an impressive surge of +28.5% - significant as it was the second-highest monthly return of 2023 after January's return of +39.9%. Since 2011, at least nine times the month of October has reported a positive monthly return. In a series of X posts, Jelle, a long-term crypto investor, has shared an optimistic view of the <a href="https://coinpedia.org/news/crypto-news-today-oct-2nd-2024-bitcoin-and-major-altcoins-fall-amid-iran-israel-war-tensions/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency market</a>, lifting the level of hope among crypto enthusiasts about the potential highs the market can reach this month.&nbsp;</p>  
<p>What will October 2024 bring for Bitcoin?</p>  
<h2 class="wp-block-heading" id="h-tracing-bitcoin-s-historical-patterns">Tracing Bitcoin's Historical Patterns</h2>  
<p>In his posts, Jelle highlights a recurring pattern observed during bullish markets: a period of weak price momentum in September, followed by a surge in October. He believes that this bullish season will adhere to the same trend, predicting a breakout for Bitcoin in the coming weeks.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/CryptoJelleNL/status/1841153285580878310
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<h2 class="wp-block-heading" id="h-bitcoin-price-prediction-for-october-2024">Bitcoin Price Prediction for October 2024</h2>  
<p>Interestingly, the predicted breakout in the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> is not the crux of the Bitcoin October Forecast made by Jelle. What deserves more attention is the part of Jelle’s prediction that hints at the possibility of a higher low in the market before Bitcoin begins its journey towards a new all-time high.&nbsp;</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/CryptoJelleNL/status/1841361833791303989
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</figure>  
<h2 class="wp-block-heading" id="h-bitcoin-price-analysis-a-general-overview-nbsp">Bitcoin Price Analysis: A General Overview&nbsp;</h2>  
<figure class="wp-block-image"><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/02153146/image-31.png" alt="" class="wp-image-358498">
</figure>  
<p>In September 2024, the <a href="https://coinpedia.org/price-analysis/bitcoin-breaking-out-is-it-the-right-time-to-long-btc-or-wait-for-the-bullish-confirmation/" target="_blank" rel="noopener noreferrer nofollow">BTC market was largely bullish</a>; although it experienced a bearish momentum in the initial days, as easily as September 7, strong buying pressure stepped in, pushing the price higher. Nonetheless, in the final days of that month, a bearish sentiment started to loom over the market.</p>  
<p>The large bearish candlestick formed on the last day of September marked the worst trading day since September 7. On September 30, the price plummeted from $65,609 to $63,310 in a single day, placing Bitcoin at a disadvantage as October commenced. On October 1, the price dipped further to $60,805. Currently, buyers are attempting to push the price upwards, with the latest price sitting at $61,887.</p>   [post_titles_links postid="358355"]  
<h2 class="wp-block-heading" id="h-it-s-a-critical-time-for-bitcoin">It's a Critical Time for Bitcoin!</h2>  
<p>In conclusion, the next few days are pivotal for Bitcoin. If expert opinions hold true, we may witness a sharp decline in Bitcoin's price. The large red candlestick at the start of the month has already sent a warning signal, prompting cautious optimism among traders.</p>  
<p><strong>Is Jelle's prediction accurate? Will Bitcoin see a sharp drop before a significant price increase? Let us know your thoughts!</strong></p>

Bitcoin Price Prediction: Will October 2024 Be Bullish Again?

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