October is a delightful month, and generally speaking, the market starts in October.
Coupled with the stimulation of many good news such as the Federal Reserve's interest rate cut, the presidential election, and the Bitcoin halving, it is really difficult for Shen Li to find the reason for the sharp decline in the market.
Moreover, Mentougou also announced today that the compensation extension will be extended from October 31 this year to October 31, 2025. It said it was to provide more time to creditors who have not completed repayment procedures to ensure that they can successfully receive their assets. As a result, the selling pressure from Mentougou this year will no longer exist, reducing the selling pressure on the market.
To sum up, we have every reason to believe that the probability of Bitcoin touching 70,000 in October is very high. However, the market situation is coming out gradually, we will wait and see.
