Bitcoin’s September Surge Signals Potential of Bull Run in October: Bitfinex Analyst

A Bitfinex analyst says that there is a possible bull run in October for the number one cryptocurrency, Bitcoin.
Bitcoin's September Surge Signals Potential of Bull Run in October Bitfinex Analyst
Bitcoin’s September Surge Signals Potential of Bull Run in October Bitfinex Analyst

According to a Bitfinex expert, the leading cryptocurrency, Bitcoin, may have a bull run in October.

Analysts are intrigued by Bitcoin’s September performance, which saw its closing price close in the green, as they think it is a promising indication for October.

The expert also noted that the market capitalization of cryptocurrencies rose by 6.1% in September. Additionally, based on the cryptocurrency’s last few months, this is an unusual occurrence.

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The Bitfinex research claims that a number of factors played a role in the prognosis and the subsequent rise in market price for Bitcoin.

The report’s analysts declare in a good way that the crypto option market is displaying encouraging indicators. As a result, cryptocurrency traders should prepare for increased market volatility.

In-chain details that are likely to support Bitcoin’s ongoing price levels are also highlighted in Bitfinex reports.

The survey also noted that as BTC supply matured during the previous three years, Bitcoin was retained for longer periods of time between six and a year.

This trend essentially explains why investors are “HODLing,” or holding on to their digital assets.

With a 3.9% increase for the month, bitcoin increased from about $25,900 at the beginning of September to just under $27,000 at the end.

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