Bitcoin: A Bold Prediction for October Surge
Bitcoin’s price is hovering below $105,000, but a significant model forecasts it could reach $275,000 to $300,000 by October. The Bitcoin Spiral Clock, a popular asset for tracking Bitcoin’s price cycles, is showing this bullish trend.
This model examines Bitcoin’s price patterns around halving events. Halving occurs after mining 210,000 blocks, or roughly every four years, and cuts Bitcoin’s reward in half to manage new coin supply. The spiral clock indicates a peak between $270,000 and $300,000 by October, with the higher end suggesting a 191% price jump.
Several factors underpin this bullish outlook. first, Moody’s downgraded the US credit rating due to soaring debt and fiscal concerns. This downgrade boosts Bitcoin as a safe-haven asset, similar to its performance during Trump’s tariffs.
Moreover, Bitcoin demand is soaring, with spot BTC ETFs nearing $42 billion inflows. Notably, the iShares Bitcoin ETF has over $65 billion in assets, approaching the SPDR Gold Trust. Institutions like Michael Saylor’s Strategy are also increasing their Bitcoin holdings.
Supply in exchanges and over-the-counter markets is dropping, further supporting Bitcoin’s rise. analysts like blackrock predict $700,000, and Standard Chartered sees $200,000 by year-end.
Technically, Bitcoin is approaching its all-time high of $109,230. A move above this level will confirm more gains, perhaps reaching $134,556.
