$BTC Bitcoin on the Brink: A Surge Awaits?
Bitcoin (BTC) is currently trapped in a stasis, lingering between $60,000 and $62,000. Despite its lack of momentum, fervent whispers of an impending breakout echo throughout the crypto community, fueled by the hopeful "Uptober" theory.
One prominent voice among the hopeful is seasoned trader and analyst Jelle. Recently, he took to X (formerly Twitter) to offer a compelling analysis of the market's current state, coupled with an audacious price prediction. Jelle points out that historically, the consolidation periods seen during summer bull runs tend to wrap up in the final 10 days of October.
Is a New All-Time High on the Horizon?
According to Jelle, this "chop" phase, characterized by erratic price fluctuations, could soon give way to explosive growth, potentially igniting a significant bullish run for Bitcoin. His prediction suggests that, if historical patterns hold, BTC could achieve a new all-time high (ATH) within the next two to three weeks.
As it stands, Bitcoin’s peak remains at approximately $73,780, a milestone reached in March following the launch of Bitcoin Spot ETFs in January. Jelle anticipates that a fresh ATH could materialize by late October or early November.
At the moment, Bitcoin hovers around $61,788, reflecting a 1.75% decline over the last 24 hours. The "chop season," as Jelle terms it, appears to persist, but his analysis hints at a forthcoming conclusion and a promising ascent for Bitcoin.
