- Popular crypto analyst Michael Van De Poppe predicts Bitcoin could rally to new all-time highs in October
- The prediction is based on Bitcoin’s historically strong performance in October over the past decade
- Another analyst, Quinten Francois, expects Bitcoin to potentially reach $162,539 by December if it follows the 2020 bull cycle
October could see Bitcoin reaching record heights according to some analysts. With the month of October historically seen as an optimistic period for Bitcoin, many bullish predictions about BTC’s short-term potential from crypto analysts are beginning to turn up. Despite recent turmoil, the renewed optimism within the market could be setting the stage for a possible rally, with some experts predicting a new all-time high price for the largest digital asset in the month.
Optimistic October Forecast from Experts
Optimism around Bitcoin is rising, as evidenced by a recent bullish forecast from popular market expert and Chief Information Officer (CIO) of MN Consultancy, Michael Van De Poppe, who has predicted that BTC could be poised for a major rally to a new all-time high in October, demonstrating his confidence in BTC’s performance in the short term.
Van De Poppe’s prediction is solely driven by the positive price performance of BTC in October over the past 10 years. With institutional interest increasing and broader adoption of the digital asset gaining traction, Bitcoin is likely to undergo a rally in October in the event that the month mirrors past scenarios.
It is worth noting that the expert previously predicted that BTC could see a sweep of liquidity around the $61,000 price range. However, despite not taking liquidity and failing to reach the level, Van De Poppe claims the crypto asset is still operating according to plan.
Another Expert Predicts New ATH This Year
Van De Poppe is not the only analyst who has forecasted a new all-time high for Bitcoin within the year. Another popular expert who has offered a bullish prediction for BTC is Quinten Francois, an author and co-founder of WeRate.
The author’s analysis is based on past trends and cycles, particularly the 2020 cycle in comparison to the current cycle, suggesting an alignment with patterns seen during the previous bull run that could send the crypto asset to unprecedented heights.
According to Quinten, in the 2020 cycle from December 15, 2018 to September 1, 2020 (specifically 625 days), Bitcoin rose by over 269%. Compared to the current cycle, the expert highlighted that within the same timeframe from December 30, 2022 to September 15, 2024, BTC has risen by about 260%.
During the 2020 cycle, the digital asset witnessed a surge in October, November and December by 277%, 429.5%, and 469.2% respectively. Should BTC mirror these monthly gains within the following months, Quinten is confident that it might reach $162,539 by December.
Conclusion
With optimistic predictions from prominent experts like Michael Van De Poppe and Quinten Francois, there are high hopes for Bitcoin to reach new heights in October and by year’s end. While only time will tell if these forecasts play out, there are positive signs that point to potential growth ahead. The coming weeks and months will reveal where Bitcoin is headed next on its journey in the crypto market.
