Bitcoin Could Break Record This Month, New Data Shows

If the latest price data is correct, Bitcoin (BTC) could break the record again this month and hit at least $ 72K in November.

Filbfilb, an analyst at Decentrader trading platform, said: In his post of October 12 He announced the price targets that Bitcoin can hit this and next month.

$ 72K can be seen in November

So far, October has been positive for the cryptocurrency market. Analysts are now trying to predict where Bitcoin could go in the last quarter of the year.

Some analysts doing historical price analysis have raised the short-term price target for the BTC / USD pair to $ 300,000.

Filbfilb said that there is high hope that Bitcoin will hit the previous record high of $ 64,500 and above in the coming weeks, but that the Bitcoin market will not need that hope.

On the other hand, filbfil claimed that current conditions are not suitable for risk taking despite the possibility of a surge and advised investors not to use high leverage on their long or short positions.

The analyst shared a chart comparing 2017 and 2021, the year after the previous block’s reward halving. According to the graph, it is possible to reach a record price until the end of October.

BTC / USD price comparison. Source: Filbfilb / Twitter

Filbfilb believes that during a possible correction, it is possible to drop to $ 48,000 due to lack of selling pressure.

It may interest you: 5 factors that Bitcoin investors should take into account this week | 11.10

The analyst said: “I think $ 48k is possible, but it doesn’t seem like there are many sellers other than those on exchanges. I say 50/50 percent ” summarized in the Twitter comments.

The BTC / USD pair is hovering around $ 57.523 at the time of translation.

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