The post Bitcoin’s September Surge Hints at a Strong Finish to 2024, $68K Next? appeared first on Coinpedia Fintech News
Bitcoin (BTC) has had a standout September, closing the month in the green, and historical patterns suggest this could be a positive sign for the coming months. According to crypto analyst Jelle, Bitcoin (BTC) may be poised for significant gains as the year progresses, this insight draws on past market behavior and current trends.
September’s Green Effect
Historically, when Bitcoin’s price ends September in the green, the cryptocurrency often experiences substantial gains in October, November, and December.
Jelle points out that in previous years, specifically 2015 and 2016, similar patterns were observed. During those years, Bitcoin saw an average surge of 15% from its September price, marking the beginning of a broader bull run.
The pattern seems to be repeating itself in 2023. After a green September, Bitcoin has continued to perform well in October and November, with December also showing promise. So far, this year has seen Bitcoin prices increase by an impressive 40% till now.
This is seen as a continuation of the historical trend where a green September leads to strong performance in the final months of the year.
Bitcoin To Hit $68K
Echoing a similar bullish stance popular crypto trader Captain Faibik’s latest analysis predicts that Bitcoin is now poised to test the $68,000 resistance area in the coming days.
Recently, Bitcoin bulls have successfully reclaimed the 60k resistance area once again. The recent upward momentum could reflect broader market confidence, fueled by increasing institutional interest and optimism surrounding the long-term outlook of Bitcoin.
As of now Bitcoin is trading around $62,152 reflecting a rise of 3.6% with a market cap of $1.22 trillion in the last 24 hours.
