$BTC In October 2024, Bitcoin is on a bull run, surpassing $70,000 for the first time since the 2021 bull run. This price increase is being driven by investor confidence and macroeconomic factors, such as fears of inflation, which have led more institutional investors to view Bitcoin as a hedge against global instability.
Analysts also predict that Bitcoin could continue to rise, with the possibility of surpassing $80,000, although there are expectations of short-term drops below $50,000 due to reduced liquidity on the blockchain and central bank policies influencing the money supply.
Another factor that has generated optimism in the market is Ripple's recent legal victory against the SEC, which has benefited not only XRP but also brought more confidence to the cryptocurrency market in general.
Overall, the market is showing signs of a possible long-term bullish trend, but investors continue to keep an eye on regulatory developments and economic indicators that could influence Bitcoin’s future.