- When we look at Bitcoin’s historical performance, the last quarter of the year typically stands out as one of the strongest periods.
- In the past nine years, Bitcoin returns in October have generally been positive, averaging around 20%.
- Another significant development is expected for Bitcoin in October. There is a second deadline for spot Bitcoin exchange-traded fund (ETF) applications.
Matrixport has released an updated report, and according to it, Bitcoin’s price stands out in the third quarter based on historical data; A BTC price prediction for year-end!
Matrixport Evaluated Bitcoin Price
When we look at Bitcoin’s historical performance, the last quarter of the year typically stands out as one of the strongest periods. In the past nine years, Bitcoin has provided an average return of over 35% in the last quarter. This is considered a highly positive indicator for the cryptocurrency world.
Markus Thielen, the head of research at Matrixport, based on this historical data, suggested that Bitcoin could reach levels of $37,000 by the end of 2023. This prediction is generating significant expectations among investors.
October is particularly highlighted as a strong month for Bitcoin. In the past nine years, Bitcoin returns in October have generally been positive, averaging around 20%. This indicates that Bitcoin may potentially see an increase in October.
Matrixport’s technical analysis indicates that Bitcoin has recently given a new bullish signal. In the past, when this pattern was triggered, Bitcoin’s price increased by an average of over 9% in a short period. This also suggests Bitcoin’s current potential for an uptrend.
The Bitcoin market is focusing on October
Another significant development is expected for Bitcoin in October. There is a second deadline for spot Bitcoin exchange-traded fund (ETF) applications, and the Securities and Exchange Commission (SEC) will announce its decision to approve or delay these ETFs in October. This decision could have a significant impact on the cryptocurrency market.
In summary, Matrixport’s report suggests that Bitcoin may show strong performance in the last quarter of the year and could reach $37,000. A positive October for Bitcoin and a favorable outcome for the ETF decision are increasing investor expectations in the cryptocurrency market.
