Bitcoin Price Expected to Surge in October, Says Pro-XRP Lawyer
John Deaton, the attorney representing Ripple investors in their legal battle against the SEC, believes that the price of Bitcoin (BTC) could experience a significant increase next month. While many analysts have predicted a future surge for BTC, most have focused on the halving event scheduled for 2024. However, Deaton recently retweeted a post by US lawyer Joe Carlasare, who anticipates a highly successful October for Bitcoin.
Carlasare suggested that one factor contributing to the asset’s volatility will be the news surrounding BlackRock and other financial giants filing to launch a spot BTC ETF in the US. The SEC’s decision regarding this matter is expected on October 17, although it may be postponed for another 45 days. It is worth noting that historically, October has been a strong period for Bitcoin, with seven out of the last nine years ending positively for the leading digital asset.
Analysts’ Predictions for Bitcoin
A number of prominent figures in the crypto industry have made bullish predictions about BTC’s future price. Adam Back, CEO of Blockstream; Robert Kiyosaki, author of “Rich Dad, Poor Dad”; Anthony Scaramucci, former White House official; and Tom Lee, Managing Partner at Fundstrat, have all expressed their belief that Bitcoin will surpass $100K at some point. Pantera Capital analysts anticipate this happening after the halving event next year when miner rewards are reduced by half. Furthermore, technical analyst Duo Nine recently suggested that Bitcoin could reach $200,000 by 2025.
Hot Take: Bull Run Expected for Bitcoin in October
While there are varying opinions on whether Bitcoin’s price will surge in October or face a bearish trend, the anticipation remains high. The upcoming SEC decision on the spot BTC ETF and the historical strength of October for Bitcoin have fueled expectations. Whether these predictions come true or not, it is clear that Bitcoin continues to be a topic of interest and speculation in the crypto community.
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