An expert revealed the reasons why bitcoin could have a record-breaking year-end
Daniel González, Crypto analyst at Bitso, shared with Cripto247 his opinion on bitcoin's current and future bullish trend.
Bitcoin (BTC) seems to be lined up for an 'Uptober' due to several key factors. Liquidity cycles in the United States are showing signs of easing, which could increase interest in higher-risk assets, such as cryptocurrencies. This, combined with interest rate cuts in both the United States and China - where both central banks have reduced rates to stimulate their economies - offers a more favorable environment for bitcoin's growth.
Interest rate cuts in both economic powers suggest that investors will seek better returns, which could benefit bitcoin by positioning it as an attractive safe haven.
On the other hand, bitcoin tends to enter a period of accumulation with an upward trend before the US presidential elections, which will take place on November 5 of this year. While we may experience significant short-term volatility once the next president is known, history shows that after election certainty, the market tends to rally and drive substantial growth for assets like BTC.
Markets favor certainty, and bitcoin has historically responded positively once political conditions become clear.
In addition, BTC closed September with a return of 7.9%, its best result for that month since 2012. This is a notable milestone, as September is typically the worst month of the year for the asset, known as 'Recktember' or 'SeptemBear'. However, when bitcoin manages to close September in the positive, the following months usually see considerable growth.
We are already starting to see this trend, with BTC hovering around 69.000 dollars, which reinforces expectations of a strong Uptober.
