XRP Attorney John Deaton believes that the price of Bitcoin may see significant growth in the upcoming month. While many analysts have predicted Bitcoin’s potential for skyrocketing in the future, Deaton suggests that October could be the catalyst for this surge.
Deaton’s statement comes in response to a tweet from US lawyer Joe Carlasare, who expressed his anticipation for what he believes will be a highly successful month for Bitcoin. Deaton simply retweeted Carlasare’s post, indicating his agreement with the prediction.
One of the factors that may contribute to Bitcoin’s price volatility in October is the news surrounding BlackRock and other financial giants that have filed to launch a spot BTC ETF in America. Carlasare mentions that the SEC’s decision on this matter is scheduled for October 17, although there is a possibility of a deadline extension.
October has historically been a strong period for Bitcoin. Analysis from Matrixport suggests that BTC has experienced positive growth in seven out of the last nine years during this month. The analysis further forecasts that Bitcoin could reach $37,000 by the end of the year.
However, it is important to note that recent market trends indicate a prevailing bearish trend. In a separate statement, Matrixport advises investors not to rely solely on a potential price increase in October. The market’s unpredictability suggests that caution is necessary.
Numerous crypto advocates, including Adam Back, Robert Kiyosaki, Anthony Scaramucci, and Tom Lee, have all predicted that Bitcoin will eventually surpass the $100,000 milestone. Pantera Capital analysts also project that this milestone will be achieved after the next halving event, which will reduce rewards for miners.
Duo Nine, a technical analyst and crypto educator, recently suggested that Bitcoin could reach $200,000 by 2025, a more realistic prediction than some of the other ambitious forecasts.
As the crypto market continues to evolve, it is essential for investors to stay informed and make decisions based on a variety of factors. The potential for Bitcoin’s growth in October is just one piece of the puzzle, and careful analysis is paramount.
Sources:
– Twitter Post by Joe Carlasare: [Link to Source](https://t.co/33Qwg82ZCE)
– Twitter Post by John E Deaton: [Link to Source](https://twitter.com/JohnEDeaton1/status/1705723284711477552?ref_src=twsrc%5Etfw)
– BlackRock Files Bitcoin Spot ETF Application: [Link to Source](https://cryptopotato.com/blackrock-files-bitcoin-spot-etf-application-taps-coinbase/)
– Twitter Post by Joe Carlasare: [Link to Source](https://twitter.com/JoeCarlasare/status/1706004750297178127)
– Matrixport’s Twitter Post: [Link to Source](https://twitter.com/realMatrixport/status/1706236525435068461)
– Bitcoin Will Explode to $120K in 2024: The US Dollar Will Die: Robert Kiyosaki: [Link to Source](https://cryptopotato.com/bitcoin-will-explode-to-120k-in-2024-the-us-dollar-will-die-rober-kiyosaki/)
– Fundstrat Predicts $150K Bitcoin Price, But BTC Drops to 8-Week Low: [Link to Source](https://cryptopotato.com/fundstrat-predicts-150k-bitcoin-price-but-btc-drops-to-8-week-low/)
– What is Bitcoin Halving? Will it Trigger the Next Bull Run?: [Link to Source](https://cryptopotato.com/what-is-bitcoin-halving-will-it-trigger-the-next-bull-run/)
– Realistic Bitcoin (BTC) Price Prediction in the Current Cycle Analysis: [Link to Source](https://cryptopotato.com/realistic-bitcoin-btc-price-prediction-in-the-current-cycle-analysis/)
Disclaimer: This article does not endorse or promote any specific investment or trading strategy. It is purely for informational purposes. Investors should do their own research and consider their financial situation before making any investment decisions.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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