Experts from the analytical company 10x Research reported that in October, the first cryptocurrency could demonstrate a new historical maximum due to the presence of two catalysts.
According to the report, the US Federal Reserve’s rate cuts and upcoming payments to creditors of bankrupt crypto exchange FTX will trigger bullish sentiment in the market.
Historically, Bitcoin has shown significant growth from October to March, and a similar trend could repeat itself given the previous market cycles of 2021 and 2017, experts noted.
Additional support for the growth of the first cryptocurrency rate will be provided by market dynamics associated with the upcoming US presidential elections and inflation expectations, analysts concluded.
Earlier, The Block’s derivatives expert Gordon Grant said that the price dynamics of the Japanese yen are increasingly influencing the first cryptocurrency.
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Source: Cryptocurrency
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