Bitcoin
Crypto Analyst Predicts Record Bitcoin Gains Before October Amid Global Liquidity Shifts ⋆ ZyCrypto
Popular crypto analyst Willy Woo predicted that Bitcoin will likely experience a bullish breakout in October this year. He predicted this even as the index performed strongly, rising above $67,000. Some analysts were quick to predict an immediate bullish outlook for the leading digital currency, but Willy had none.
He tweeted:
In addition to predicting the resumption of the long-term bull market before October, Woo also stated that 2025 would be a record year for Bitcoin. He focused on global liquidity statistics to make the projections.
Price Action
Bitcoin has been quite slow for most of this month. However, the largest digital currency by market capitalization lost some value a few days before this publication was released, followed by a timid recovery. Here is how BTC performed earlier today on Bitstamp:
Is it time to join the bull movement?
Several analysts, including Willy’s colleagues at X, were quick to jump on the bull bandwagon and declare the bull market resuming.
Woo is known for his analytical approach and is a Bitcoin maximalist.
This small recovery coincided with relatively positive US labor statistics, so it could simply be an anticipation of the US Federal Reserve cutting interest rates.
Has the bull market been revived?
According to crypto billionaire Mike Novogratz, Bitcoin will likely fluctuate between $55,000 and $75,000 for now, until another favorable external indicator presents itself. The furor surrounding the Bitcoin block reward halving, also known as Bitcoin halving, and spot ETF approval has subsided.
Although the trading range suggested by Novogratz is quite wide, it provides a solid foundation for the future. Any mediocre movement between $60,000 and $70,000 will not revive the long-term bull market, that’s for sure. Upward forces need to overcome the new all-time high of $73,000 to change its fortunes.