Bitcoin began October with a record high but faces predictions suggesting limited price movements for the remainder of the month.
Over the weekend, Bitcoin achieved a new all-time price, prompting speculation about its upcoming trends.
- Bitcoin is currently expected to stabilize while traders eye a potential rise towards $150,000.
- Predictions indicate that BTC may experience dips before new highs, with key support levels identified at $118,000 and above.
- Analysts anticipate that significant price movements may not occur until after a consolidation phase.
- The Federal Reserve will be closely observed this week, particularly amid ongoing market anxieties due to the US government shutdown.
Outlook: $150,000 Target
Currently, Bitcoin’s price is around $124,000, down from its recent peak. Analysts caution that immediate gains may take some time, advocating for trend patience.
AI Forecasting Tool Insights: A new prediction model suggests October will not see aggressive price movements, recommending that traders watch closely between support at $108,000 and resistance at $123,000 as definitive breakouts may determine future trends.
Upcoming Economic Data: The ongoing US government shutdown has caused delays in macroeconomic data reporting, alongside critical speeches from Federal Reserve officials that could impact market sentiment.
Overall, the market sentiment remains cautiously optimistic, feeling the effects of evolving economic conditions and their impact on cryptocurrency, particularly Bitcoin.
