With the crypto market anxiously awaiting what ‘Uptober‘ could have in store for Bitcoin, one finance expert has predicted that BTC could reach a new all-time time high by Halloween. Although the asset has yet to live up to its October potential, there is still room for it to increase before the 31st holiday.
Although it had struggled at the start of the month, Bitcoin has been steadily gaining for several weeks. That is predicted to be just the beginning by many. Indeed, several analysts have predicted a return to the $70,000 level before the end of the month.
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Bitcoin Could Challenge $73,000 High by Halloween
Despite its ups and downs, 2024 has been monumental for Bitcoin. The leading cryptocurrency has outperformed traditional investment assets like gold and silver. Throughout the year, it is the best-performing asset to date, up 49% and outpacing gold’s 26%. That fact is even more impressive considering the several all-time high prices that gold has encountered throughout the year already.
The token has struggled to live up to some of the early-year hype, though. It reached an all-time high of $73,000 in March but has retreated since. However, it has been formulating a win streak. Over the last 30 days, it is up more than 17%, according to CoinMarketCap.
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That has led many experts to predict that Bitcoin could eye a new all-time high price by Halloween. Speaking to Finbold recently, Joy Wallet CEO Ben Sporn noted the asset could be set to challenge those highs by the time November officially arrives.
Sporn said, “Based on what I’m seeing, I think we could be looking at a pretty strong finish to October.” Indeed, he noted the historical performance of the asset during the month. Thereafter, he noted, “I wouldn’t be surprised if we see it push higher, possibly into the $65,000 to $70,000 range.”
He wasn’t the only one. HodlMaven owner. Michael Matter discussed similar potential. Indeed, he placed a Halloween price target of $72,000, inching closer to the record mark. It is safe to say that the token would then have the potential to break through its previous landmark. If market sentiment can remain high, we could have a new highest price before the calendar turns.