Bitcoin’s price has been up and down over the last three months, moving between $67K and $53K. Now, experienced investors think the long-awaited halving effect could finally bring this year’s biggest upward move. Meanwhile, Popular trader Miles even hints at a quick rise toward $100K—could this be Bitcoin’s final climb, or might it continue into 2025?
Bitcoin Steady Near $62K- Is 100k Next?
Bitcoin is holding strong around $62,000 as we enter the second half of October, a month that has often been good for the top cryptocurrency. This comes after an unexpected September, where Bitcoin rose 7%, reaching a two-month high of $66.5K. This positive move is rare for September, marking only the third time since 2013 that Bitcoin has seen gains in what’s usually a slow month.
Crypto trader Miles recently shared his view on the market, saying that after months of sluggish movement, he believes Bitcoin might be nearing the final stage of this bull run.
According to him, this last phase could be highly volatile, potentially pushing Bitcoin’s price to $100,000 by the end of the year. Miles attributes his confidence to signs like the Federal Reserve’s anticipated interest rate cuts and the performance of traditional assets, including stocks and bonds, which he believes could further boost Bitcoin’s rise.
The Unexpected End to Bitcoin’s Rally?
Miles, however, offers a unique viewpoint on the timeline. Unlike other traders who believe the bull market could extend well into 2025, fueled by new ETF narratives and changes in the U.S. political landscape, he sees these factors as potential signals that the rally may end sooner than expected.
In his words, the Fed’s rate cuts might serve as a cautionary indicator, suggesting that Bitcoin’s bull market may be reaching its peak rather than gearing up for prolonged growth.
Despite his belief in a shorter rally, Miles remains open to the possibility of Bitcoin continuing upward into 2025.
