Among them is notable crypto trader and analyst Jelle. Taking to X (formerly Twitter), he shared an insightful analysis of the current market situation and gave a massive BTC price prediction. The analyst explained that the consolidation phase in the summer bull market phases historically ends around the last 10 days of October.
Per his prediction, the Bitcoin chart looks ready to ignite this potential bull run. The current all-time high of BTC is around $73,780. The coin achieved this milestone in March of this year after the launch of Bitcoin Spot ETFs in January. Now, Jelle is expecting a new ATH by the end of October or the start of November.
As of press time, Bitcoin is trading around $61,788 after a drop of 1.75% in the last 24 hours. Bitcoin has been trading around this channel, and the “chop season,” a term used by Jelle, seems to be continuing. However, Jelle’s analysis states that this phase is going to be over soon, and new highs are in the cards for Bitcoin.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
