Bitcoin Price Prediction after Almost Dropping to $60K
We predict where Bitcoin may be headed as it continues its bearish descent after climbing high in September.
Over the last week, Bitcoin (BTC) has lost 6.37%, and it has drastically reversed course from where it was headed just last week. We have a new price prediction for investors who are watching its progress.
Now at $60,546 (BTC/USD), Bitcoin may look like it is headed further and further down to perhaps drop below $60K, but we think it is more likely that Bitcoin is preparing to reverse course and start moving back up.
Watch Bitcoin’s behavior over the last month for an indication of what it might do now. The crypto token has bucked expectations and performed better than expected.
Bitcoin started off September around $59K and then spent most of the month well above that mark. The price did dip early on, but that quickly changed after the Fed cut interest rates and jobs reports came in looking positive. With another cut on the horizon, Bitcoin could be gearing up for a very bullish trend in the near future.
What to Expect from Bitcoin This Weekend
Heading into the weekend, Bitcoin may be looking down, but we anticipate it will climb much higher before Monday. Yes, global tensions created by fighting in the Middle East are keeping Bitcoin back, as well as the rest of the crypto market and the stock market. However, that is not the only factor in play.
Bitcoin’s recent bullish behavior has piqued the internet of investors, making the crypto coin a hot topic for crypto analysts and provoking incredible price predictions. We anticipate that this coin could still hit a new record high before the end of the year, especially if economic reports remain positive. We have seen good news from the job sector and manufacturing sector as well as other areas of the economy, and there is potential for Bitcoin to hit $100K in the early months of 2025.
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