- Bitcoin (BTC) has smashed through the $65,000 price target and holds strong.
- The top crypto asset has now broken historic bearish levels for its September performance.
- Analysts believe a new ATH target for BTC of $100,000 can arrive in the next 40 days.
Bitcoin has smashed through the $65,000 price level leaving the crypto market in a happy bullish state and has pushed the Crypto Fear & Greed Index to a score over 60 in a Greed sentiment. This has laid a strong foundation for what many crypto analysts believe to be a heavily bullish Q4, especially considering this a Bitcoin Halving year.
Bitcoin Breaks Historic September Performance Records
Historically, Bitcoin (BTC) tends to have a bullish green Q4 during Bitcoin Halving years and is often followed by red August and September months. However, there have been years where green September months have led to an even more bullish green Q4 for crypto. Presently, Bitcoin is greener than it has been for September in a long time.
As we can see from the image above, Bitcoin (BTC) is setting new records for its performance this September and has broken bearish historical records. Many analysts observe that if Bitcoin closes over $59,000 in September, the month will close in bullish records. So far, as September approaches its end, the price of Bitcoin is much higher than expected hinting at a great bullish surge in Q4.
$100,000 BTC ATH Before US Elections?
This paired with other bullish factors like FED rate cuts, a $140 billion liquidity injection from the People’s Bank of China, and the upcoming US Presidential elections, the future of crypto and its activity in Q4 seems to be quite promising leading to many analysts predicting a new BTC ATH at $100,000 by the time of the US elections.
As we can see from the post above, one analyst believes the $100,000 BTC ATH could arrive before the US elections will begin which is set to take place in about 40 days. For BTC to hit this price it must pump by 54% a 1.35% per day for 40 days or 9% weekly gains. He concludes by saying there is a strong possibility for this event to occur further fueling bullish sentiment in the crypto space.
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