Cryptocurrency analysts have named a condition for a significant growth of bitcoin by the end of October

Analysts at the US bank JPMorgan have identified several factors that could affect bitcoin’s growth.

In their opinion, despite the weak start, October may turn out to be bullish for the first cryptocurrency. JPMorgan noted that in 70% of cases, October turned out to be a profitable month for cryptocurrency investors.

«While the preliminary results do not guarantee the future, we believe that the popularization of the term 'Uptober' may influence investor behavior and ensure that bitcoin has a successful month,» the analysts said.

The cryptocurrency market has not yet felt the positive effect of the US key rate cut, which is likely to be the main driver for the continued growth of the first cryptocurrency, experts say. The recent approval of options trading on spot bitcoin ETFs could be another catalyst for the rise in the value of bitcoin.

Experts suggest that this will increase liquidity in the medium term and attract new investors to the market. «The emergence of options provides investors with more flexible tools for working with ETFs, which will help increase the liquidity of the underlying asset,» the experts said. At the same time, JPMorgan acknowledged that the lack of historical data makes it difficult to make predictions about the future price of bitcoin, as cryptocurrencies have only started to develop since 2012.