Cryptocurrency analysts are convinced that bitcoin will grow in October

Kitco News analyst Jim Wyckoff shared his opinion on the future of bitcoin in October — the BTC is expected to grow, according to Wyckoff.

Taking into account the recent price dynamics in the crypto market, Jim Wyckoff said that «more movement in the value of bitcoin is on the horizon.» If the flagship cryptocurrency manages to surpass the $ 20,000 mark at the beginning of the month, we can expect further growth of the asset to $ 22,857 by the end of October, the analyst emphasized. At the time of writing, BTC is trading at $ 19,323.

According to Jim Wyckoff, his positive outlook for bitcoin’s value is also based on the annual trend — October is usually successful for BTC and, accordingly, for the entire cryptocurrency market. Therefore, we can expect greater investor interest due to the psychological stimulus.

However, not everyone shares Wyckoff’s point of view. Yesterday, a cryptocurrency analyst and trader known on Twitter as @CryptoCapo_ shared his predictions about the future of bitcoin with members of the cryptocurrency community: Capo believes that the HTS will fall by 30% in the near future. It’s worth noting that @CryptoCapo_'s March prediction of a 50% drop in the flagship cryptocurrency came true, although few people believed in such a negative scenario at the time (in March, bitcoin was trading at over $ 40,000). Given the accuracy of Capo’s predictions, there are chances that a sharp drop will occur this time around.