Bitcoin’s impressive September increases expectations for October

The world’s most famous cryptocurrency, Bitcoin, is expected to flourish in October after a very nice rise last month.

Despite a slight decrease of around o.50% earlier this week on Wednesday, there is a lot of hope and optimism around Bitcoin at the minute with many experts and analysts ready for a boom this month.

Over the past week, there have been very promising and positive signs around Bitcoin’s immediate and longer-term future having seen its trading price creep up by 4% and as reported on Wednesday, its value was around ¢24,412.

Bitcoin was an impressive market presence during the month of September and even managed to close out last month by finishing in the green, which has certainly raised interest and kept people interested as to what could happen by the end of October.

Will Bitcoin be worth its value in October?

According to expert analysts at the crypto exchange, Bitfinex have suggested they expect a rathe bullish month to come from Bitcoin after seeing how it performed in September.

People who are familiar with cryptocurrency and frequent traders will know that in the past, if a currency has a strong September, then that usually leads towards a bullish October, so the signs are looking good for Bitcoin.

Bitfinex analysts have recently pointed out that the combined crypto market cap actually increased by 6.1% during September which did indeed mark a very rare occurrence as the month actually closed out positively.

The much-read weekly crypto report from Bitfinex Alpha has managed to highlight several factors to support a favourable forecast which should see an increase in volatility and a some big upside for Bitcoin this month.

What have analysts said about Bitcoin?

Further on in the report, the analysts have pointed out that the crypto options market itself is now starting to show signs of anticipating a sort of higher market volatility which all points towards a positive October.

It’s believed that when implied volatility surpasses historical volatility, it very often indicates and points towards the fact that traders are bracing themselves for an increased amount of price swings.

Given it is the most famous and bought crypto around the world, Bitcoin does indeed have a massive amount of long-term holders, and their belief in the currency is a huge factor behind its ability to remain so stable at the moment, especially if a positive price swing is in the offing.

Just to highlight how good Bitcoin performed in September it’s claimed that the much-loved cryptocurrency started September at approximately $25,900 and finished the month just below $27,000, which points towards a healthy 3.9% gain.