Historically, September is considered the worst month of the year, with investors looking forward to October with hope. Observing the performance of cryptocurrencies in the last quarter of the year, investors’ sentiments appear justified. What do various analysts say about Bitcoin’s current evaluation for October?
When Will Bitcoin Rise?
Bitcoin (BTC) 
$62,782 has reclaimed the $60,000 mark, but it’s still too early to celebrate as it has yet to convert $61,700 into support. The significant movement will commence once the price breaks through the volume-rich zone between $63,000 and $65,000. This will enable BTC to potentially elevate its 2024 peak of $73,777.
Crypto analyst Daan Crypto Trades highlighted a promising detail for October. The Coinbase BTC premium serves as a crucial indicator of U.S. demand. If it climbs into positive territory, we might infer increased risk appetite from U.S. investors. To declare a reversal from declines, this premium must first hit a low in negative territory.
If the Coinbase premium remains positive, it could signify a growing bullish sentiment for October.
Short-Term Expectations for Bitcoin
Another crypto analyst, Altcoin Sherpa, suggested that while a minor pullback may occur, the recent recovery could differ from previous patterns. Noting a neutral stance in the short term, the analyst reiterates a bullish outlook for medium and long-term periods. Continued consolidation of Bitcoin at higher levels, along with excessive selling at resistances, could shift market dynamics.
