Bitcoin Enters New Month Positively: Heartwarming Predictions From Analysts

The price of Bitcoin (BTC) gained momentum after the monthly closing data gave a positive signal.

BTC / USD 1 hour candlestick chart (Bitstamp). Source: TradingView

BTC’s monthly close coincides with PlanB’s forecast

According to data from Cointelegraph Markets and TradingView, the BTC / USD pair started moving towards $ 44,000 on Thursday. It then briefly tested the lows, approaching $ 45,000 today.

While the bitcoin price has yet to make a clear move against resistances of $ 45,000 and above, it has not disappointed with its month-end performance. It almost matches the predictions made by PlanB, the developer of the stock flow model.

With a target of $ 63,000 for October, the analyst believes that Bitcoin will make up for what it lost entering the fourth quarter.

Cointelegraph contributor Michaël van de Poppe said: “September was bad. October was great. November was great. December was great.” saying He commented to his Twitter followers, “Buy from the bottom of my pain.”

Van de Poppe emphasized the historic performance in several months of each year, stating that, as Cointelegraph previously noted, “September is considered boring.”

But other commenters were more cautious. In its latest market update, crypto trading company QCP Capital said that the approach to the market as a whole would be correct.

“In general, we are having a difficult time finding a certain direction amid the headwinds of the macro and micro markets. Our strategy is to stay fairly neutral and nimble going into the fourth quarter,” the executives said.

Macro factors, China’s repeated crackdown on cryptocurrencies, as well as US legislation and possible approval of the Bitcoin exchange-traded fund (ETF) are highlighted.

As of Friday, voting on the government’s infrastructure bill, originally scheduled for Monday, is taking place.

Ethereum returns to $ 3,000

Meanwhile, altcoins are leading the way for Binance Coin (BNB), which is up 6 percent in 24 hours.

Related: “Bitcoin May Hit $ 200k In Next Rally” – Bobby Lee

The top ten cryptocurrencies by market capitalization were in the green at the time of writing.

Ether (ETH), the largest altcoin, traded over $ 3,000 with a 3% return.

ETH / USD (Bitstamp) 1-hour candlestick chart. Source: TradingView

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