Recent events in the cryptocurrency market, particularly Bitcoin's price levels, have sparked interest among analysts and investors. Although Bitcoin's price dipped after the Fed's decision on rates, there are several signals indicating its potential for growth.
4-Year Cycle: October as a Bullish Month
According to Saint Pump's analysis, Bitcoin is currently in its last consolidation phase. Historically, October has been a bullish month for Bitcoin, showing growth in 10 out of the last 12 years, with an average gain of 21.9%.
Peaks in Global Liquidity
Another significant signal is global liquidity. The global M2 is expected to peak on September 23. Historically, Bitcoin tends to top before global M2 does, making this timeframe noteworthy.
Signals from the Pi Cycle Indicator
The Pi Cycle Top Indicator, based on moving averages, is also showing signs of a potential peak. The gap between its two key averages is growing, which often occurs when Bitcoin is building momentum.
Despite recent fluctuations, the current analytical signals could indicate a significant rise for Bitcoin. Investors and observers will closely monitor developments as prices may approach the $130,000 mark.
