While the volatile price movements for Bitcoin 
$88,762 continue, investors seem to maintain their apprehension about when a new rally might begin. Particularly, the historical data indicating a decline for BTC in September has deepened the uncertainty in the market day by day. Despite this, three different analysts have shown optimism regarding BTC’s potential rise and have continued to express bullish views in line with the recent surge.
Bitcoin Comments
As Bitcoin’s price started to rise again today, analysts’ positive statements continued. The point all analysts emphasized was the approaching October, known as “Uptober.” October is generally known for bringing a rise in cryptocurrencies.
First, looking at Rekt Capital’s comments, it was seen that he pointed to $53,250 as support and $55,881 as resistance for the scenario ahead of the rise.
The analyst’s comments were as follows:
The good news is that Bitcoin has a Weekly Close above ~ $53,250 to maintain the bottom of the bargain-buying area (orange) formed under the black Down Trend Channel. To maintain this momentum, Bitcoin will need to reclaim $55,881 (blue) as support and try to regain the bottom of the black channel.
Secondly, looking at the comments made by Trader Tardigrade, it was seen that he commented on the possibility of a new rise approaching.
#Bitcoin monthly RSI broke the U-curve in May 2024, which could trigger $BTC to consolidate for 3 to 6 months based on previous behavior. BTC completed a 4-month consolidation after the RSI breakdown. This means $BTC could rise again at any time from now on.
Finally, it was seen that Crypto Rover, one of the significant names in the market, emphasized October and shared a chart:
September is always bearish for #Bitcoin.
But waiting for Uptober will be worth it.
How Much is Bitcoin in TL?
The decline that had been ongoing for days in Bitcoin had stabilized yesterday, but incredible rises were seen in the past few hours today. After a rise of over 4% in the last 24 hours, the BTC price increased to $56,700, showing the clearest price increase seen recently.
Additionally, in the BTC/TRY pair, the price was seen at 1,932,000 TL. Today’s price increase distanced BTC’s market cap from the critical threshold of 1 trillion dollars, raising it back to 1.119 trillion dollars.
BTC’s trading volume also increased in parallel with the price rise, surpassing 32.8 billion dollars after a 104% increase.
