The Bitcoin price has been going up consistently this month and it is good because this is what we all expect in the market. Earlier it was looking like October was not going to be good but later on, things changed and now we can see how things are happening in the market and this is great. It is great because the Bitcoin price is pretty much close to 70,000 U.S. dollars and the gap is not big S it can happen anytime that we see it crossing this.
It is obvious that the market is unpredictable and we do not know how things will be there but still based on the historical data and overall technical analysis we can predict the next possible movement in the market. We know that the last quarter of the year is very important for Bitcoin and the crypto market in the year of halving. We are in the same year where the hall wing has already been done in the second quarter of this year and now we are in the last quarter of the year which can be a great time for Bitcoin to trigger its bull run cycle.
The US election is also going to be another reason why people are expecting Bitcoin will grow even more. So people are expecting the price to touch 100,000 U.S dollars and some are expecting even more that it can make 150K U.S dollars I believe it is quite possible however it is not possible for Bitcoin to run 1 million dollars in this cycle because that is such a big amount.
If we look at the bigger picture then the ETF is bringing a lot of money inflow in Bitcoin and it is something that we should not ignore because with more money inflow we can expect a significant value rise in the long run. Asset management companies are doing their best to invest more investment on Crypto funds and they are also anticipating a significant value appreciation over the period. It is obvious that if they have invested such a big money then they are very how things are going to be and this is what they are working on.
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