Cryptocurrency experts are convinced that bitcoin will grow by 28% in October

Cryptocurrency analysts at Coinbase/">InvestAnswers have predicted that the flagship cryptocurrency will grow by 28.42% in October, the host of the InvestAnswers program on YouTube said.

According to forecasts, bitcoin could reach $ 26,000 over the next four weeks, an assumption based on the average yield of the Cryptocurrency for October in previous years. The last time bitcoin recorded a price above $ 26,000 was back in June. «If bitcoin can stay at its level, everything will be better than before… We are looking forward to October, when the flagship cryptocurrency will grow by 28.42%, which will raise the price of bitcoin to about $ 25,000-$ 26,000,» the InvestAnswers host emphasized.

According to analysts, October is traditionally a profitable month for the cryptocurrency market: «Let's compare the October performance of bitcoin with other months. September is red, August seems to be without significant losses. However, October is the third best crypto month, so many people call it Uptober.»

Jim Wyckoff, an analyst at Kitco News, shares a similar view, and his positive outlook for bitcoin’s value is also based on the annual trend: «October is usually a successful month for BTC and, consequently, for the entire cryptocurrency market. Therefore, we can expect more investor interest due to the psychological stimulus.» Jim Wyckoff believes that if the flagship cryptocurrency manages to exceed 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.