An analyst predicted Bitcoin would rise to $120,000–$140,000.
In the short term, Bitcoin (BTC) can be expected to move in the $120,000–$140,000 range, with possible periods of consolidation. AMarkets lead analyst Igor Rastorguev told Izvestia on October 2.
Analysts predict that Bitcoin could reach $130,000–$144,000 by the end of 2025. However, the most optimistic scenarios, based on the cycle model, suggest a potential price of up to $243,000.
The analyst also reported that the rise in BTC above $119,000 was a natural result of a confluence of several key factors. One of these was the US Federal Reserve's September decision to cut the interest rate by 25 basis points to 4-4.25%.
“The market is already pricing in further declines—with a 75% probability, another 25 basis points are expected in October and December. This creates a favorable environment for risky assets, including cryptocurrencies,” the expert added.
According to him, another important driver of growth is institutional capital. In September alone, inflows into Bitcoin ETFs totaled over $3 billion, a stark contrast to the outflows observed earlier in the month. Corporate investors, such as MicroStrategy, have added 0.64 million BTC to their reserves since the beginning of the year, signaling a fundamental shift in the perception of cryptocurrency—from a speculative asset to a fully-fledged corporate treasury tool.
“October has historically been a strong month for Bitcoin, with the cryptocurrency averaging around 25% growth. The current post-halving cycle (17 months have passed) also favors further strengthening. Additional support comes from the growth of the global M2 money supply, with which Bitcoin is traditionally correlated, and the weakening dollar,” Rastorguev noted.
On the same day, it became known that the price of Bitcoin rose above $119,000. At 11:00 Moscow time, the coin was trading at around $118,500, according to data from Investing.
On September 26, Alexander Shneiderman, Head of Customer Support and Sales at Alfa-Forex, reported that the Bitcoin market is continuing its correction phase after reaching summer and historical highs of $123,000 per coin. He added that the main growth drivers associated with the new US administration's intention to promote the Bitcoin market have now played out. This is prompting major market participants to take profits.
Source: cryptonews.net
