ANALYST NAILS BITCOIN MONTHLY CLOSE 2 MONTHS RUNNING — HIS OCTOBER TARGET IS $63K

The crypto world is buzzing with excitement as one analyst has accurately predicted Bitcoin's monthly closing price for two consecutive months.This feat has amplified anticipation around his latest prediction: a staggering $63,000 for Bitcoin by the end of October. Un analista acierta el cierre mensual de Bitcoin 2 meses seguidos, y su objetivo para finales de octubre es de 63,000 d lares La acci n del precio de Bitcoin se ajusta exactamente a las predicciones de PlanB por segundo mes consecutivo, y si la historia se repite, el par BTC/USD deber a llegar a USD 63,000 a finales de mes.The analyst, known as PlanB, uses the stock-to-flow (S2F) model, and Bitcoin's recent price action has been closely mirroring his projections. Bitcoin closed the month of October at $61,343, which is its highest monthly close ever recorded. As Bitcoin Archive notes on Twitter, all-time high monthly closes are quite often a sign of more strength to come. Bitcoin Archive/Twitter. Bitcoin's closing price was roughly 3% away from analyst PlanB's floor price prediction of $63,000, thoughThis has led to a surge in optimism, with many believing that BTC/USD is on track to reach this ambitious target.Bitcoin began October showing strength, attempting to hold the $44,000 level. Bitcoin fiyatı 45.000 dolar ve daha y ksek seviyedeki diren lere karşı hen z net bir hamle yapmasa da, ay sonu performansıyla hayal kırıklığınaThis comes after periods of volatility, where the price tested lower levels before rebounding.The question now is whether Bitcoin can maintain its momentum and climb to $63,000, potentially marking a significant milestone in its ongoing journey. Der Analyst PlanB hat die Bitcoin-Kursentwicklung zum zweiten Mal in zwei Monaten pr zise vorhergesagt. Seine Prognose f r Oktober lautet, dass Bitcoin bis Ende des Monats auf 63.000 US-Dollar steigt.For seasoned crypto investors and newcomers alike, this prediction is a point of intense focus, given its potential implications for the market.

PlanB's Accurate Bitcoin Price Predictions

The core of this excitement hinges on the consistent accuracy of PlanB's predictions.He has successfully called the Bitcoin monthly close for two months straight, building considerable credibility within the cryptocurrency community. Another technical indicator that has been predicting a bullish outcome for Bitcoin is the bull pennant. Related: Analyst nails Bitcoin monthly close 2 months running His October target is $63KThe stock-to-flow model, the foundation of his analysis, examines the relationship between the scarcity of Bitcoin (its ""stock"") and the rate at which new Bitcoins are mined (its ""flow"").

This model suggests that as Bitcoin becomes scarcer, its value should increase. A a o do pre o do Bitcoin est em conformidade exatamente com as previs es do PlanB pela segunda vez e, se a hist ria se repetir, o BTC/USD deve estar em US$ 63.000 no final do m s. Analista acerta fechamento do Bitcoin por 2 meses consecutivos e diz que meta de outubro US$ 63 milThe fact that the actual price movements have so closely aligned with PlanB's S2F model projections has given investors confidence in its predictive power. BTC/USD was down 6.2% month-to-date at the time of writing, making February 2025 Bitcoin s weakest since 2025 and one of only two red Februaries since 2025. BTC/USD monthly returnsHe emphasizes that Bitcoin price action is conforming to his predictions for a second time, and if history repeats itself, BTC/USD should be at $63,000 by the end of the month. Analyst nails Bitcoin monthly close 2 months running His October target is $63K 3 years ago Bitcoin price action exactly conforms to PlanB s predictions for a second time, and if history repeats itself, BTC/USD should be at $63,000 by the end of the month.Now, all eyes are on the market to see if Bitcoin will meet the target.

The October $63,000 Target: A Closer Look

The $63,000 target for October is not just a random number; it's derived from PlanB's stock-to-flow model.This model takes into account Bitcoin's limited supply, which is capped at 21 million coins.With each ""halving"" event (where the rate of new Bitcoin creation is cut in half), the scarcity of Bitcoin increases, theoretically driving up its price.

Several factors could contribute to Bitcoin reaching this ambitious goal:

• Increased Institutional Investment: Growing interest from institutions like hedge funds and corporations could inject significant capital into the Bitcoin market.
• Mainstream Adoption: As more businesses and individuals adopt Bitcoin for transactions and investment, demand could further increase.
• Favorable Regulatory Environment: Clear and supportive regulations could legitimize Bitcoin and attract more investors.

However, it's crucial to acknowledge that the cryptocurrency market is inherently volatile, and external factors can impact Bitcoin's price significantly.

Analyzing Bitcoin's Recent Performance

Bitcoin showed notable strength at the beginning of October, trying to hold the $44,000 mark.Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to that level, briefly dipping, and then rebounding even higher. Analyst nails Bitcoin monthly close 2 months running His October target is $63K Bitcoin price action exactly conforms to PlanB s predictions for a second time, and if history repeats itselfThis price action demonstrated resilience and buying interest in the market.

While Bitcoin faced resistance around the $45,000 level, the end-of-month performance aligned closely with PlanB's predictions for the second consecutive month.This near-perfect match has fueled further optimism regarding his October target.

The market is watching closely to see if Bitcoin can overcome key resistance levels and maintain its upward trajectory.

Other Analysts' Perspectives on Bitcoin's Future

While PlanB's prediction is gaining significant attention, it's essential to consider perspectives from other analysts in the crypto space.For example, pseudonymous analyst Pentoshi, with a large following on X, suggests that Bitcoin's weekly chart indicates demand is significantly exceeding supply.He expects that this imbalance will drive prices even higher.

Another analyst, Titan of Crypto, speculates that Bitcoin's final bullish cycle could commence as early as October. See full list on cointelegraph.comThese different perspectives collectively paint a picture of strong bullish sentiment surrounding Bitcoin.

Comparing different Analysis methods

It's helpful to remember there are various analysis methods used in the crypto world.

1. Technical Analysis: Involves examining price charts and indicators to identify patterns and predict future price movements.
2. Fundamental Analysis: Evaluates the intrinsic value of a cryptocurrency by considering factors like its technology, adoption rate, and team.
3. Sentiment Analysis: Gauges the overall market sentiment towards a cryptocurrency by analyzing news articles, social media posts, and forum discussions.

Combining insights from different analysts and using a variety of analysis methods can provide a more comprehensive understanding of Bitcoin's potential trajectory.

Historical Bitcoin Performance and Bull Market Indicators

Examining Bitcoin's historical performance can offer valuable insights into potential future price movements.Bitcoin Archive on Twitter pointed out that all-time high monthly closes often signal continued strength in the market.

PlanB also highlights that at the peak of Bitcoin bull markets, the Relative Strength Index (RSI) has remained above 80 for several months.The monthly RSI is rapidly approaching this level, suggesting that Bitcoin could be entering a similar bullish phase. Analyst nails Bitcoin monthly close 2 months running His October target is $63KHistorically, Bitcoin has demonstrated significant gains during periods with a high RSI.

Potential Catalysts for Bitcoin's Price Surge

Several factors could potentially act as catalysts, propelling Bitcoin towards the $63,000 target and beyond:

• ETF Approval: The approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States could open the doors to a much larger pool of investors, including institutional players who are currently hesitant to invest directly in Bitcoin.
• Inflation Hedge: As inflation rates rise in many countries, Bitcoin could become increasingly attractive as a store of value and a hedge against currency devaluation.
• Technological Advancements: Ongoing development and improvements in Bitcoin's technology, such as the Lightning Network, could enhance its scalability and usability, driving further adoption.

Risk Factors to Consider

While the outlook for Bitcoin appears promising, it is important to acknowledge the inherent risks associated with investing in cryptocurrencies:

• Market Volatility: Bitcoin's price can be highly volatile, experiencing significant swings in short periods.
• Regulatory Uncertainty: The regulatory landscape surrounding cryptocurrencies is still evolving, and new regulations could negatively impact Bitcoin's price.
• Security Risks: Bitcoin exchanges and wallets are vulnerable to hacking and theft, which could result in financial losses.

Investors should carefully assess their risk tolerance and conduct thorough research before investing in Bitcoin or any other cryptocurrency.

How to mitigate risks

Minimizing exposure to potential pitfalls is crucial.Consider these points:

• Diversify Your Portfolio: Don't put all your eggs in one basket.Spread your investments across different asset classes to reduce risk.
• Use Secure Wallets: Choose reputable and secure Bitcoin wallets with strong encryption and multi-factor authentication.
• Stay Informed: Keep up-to-date with the latest news and developments in the cryptocurrency market to make informed investment decisions.

The Broader Crypto Market and Altcoins

Bitcoin's price movements often influence the broader cryptocurrency market, affecting the prices of altcoins (alternative cryptocurrencies). While still not tackling resistance at $45,000 and higher, Bitcoin did not disappoint with its end-of-month performance, this almost exactly matching predictions from stock-to-flow model creator PlanB for a second month running. With $63,000 now planned for October, expectations were high for Bitcoin to make up for lost ground going into Q4.If Bitcoin reaches the $63,000 target, it could trigger a broader rally in the crypto market, benefiting many altcoins as well.

However, it's important to remember that altcoins are generally more volatile than Bitcoin, and their prices can be more susceptible to sudden and dramatic changes. I dati di Cointelegraph Markets Pro e TradingView mostrano che gioved BTC/USD tornato prima a 44.000$, ritirandosi leggermente per poi decollare verso i 47.700$. Per il secondo mese consecutivo, la candela di settembre si chiusa quasi esattamente al livello previsto dal creatore del modelloInvestors should exercise caution and conduct thorough research before investing in altcoins.

Altcoin Season: What to expect

If Bitcoin performs well, we could see the start of an ""altcoin season"" where these smaller coins outperform Bitcoin.

• Increased Risk: Altcoins are riskier than Bitcoin, so invest only what you can afford to lose.
• Do Your Research: Understand the technology, team, and use case of any altcoin before investing.
• Manage Expectations: Altcoin prices can be highly volatile, so be prepared for potential losses.

Conclusion: Will Bitcoin Reach $63,000 in October?

The prediction of a $63,000 Bitcoin price target for October by an analyst who has successfully predicted monthly closes for two months in a row has undoubtedly stirred excitement in the crypto community.Backed by the stock-to-flow model and historical data, this forecast carries considerable weight. 15K subscribers in the CryptoCurrencyClassic community. The unofficial Wild Wild West of r/CryptoCurrency. CryptoCurrency Memes, News andHowever, the volatile nature of the cryptocurrency market and various external factors mean that this target is not guaranteed.Factors such as institutional investment, favorable regulatory developments, and increased mainstream adoption could contribute to Bitcoin reaching the predicted level. Analyst nails Bitcoin monthly close 2 months running his October target is $63K. Analyst nails Bitcoin monthly close 2 months running his October target is $63KOn the other hand, regulatory uncertainty, security breaches, and market volatility could hinder its progress.

Ultimately, whether Bitcoin reaches $63,000 in October remains to be seen.However, the combination of accurate past predictions, bullish market sentiment, and potential catalysts suggests that the possibility is within reach. Bitcoin se mostr dispuesto a retener el nivel de USD 44,000 el 1 de octubre, ya que el cierre mensual provoc una demostraci n de fuerza a ltima hora.Los vol menes de los protocolos DeFi y de los DEX se disparan en medio de la prohibici n de las criptomonedas en China y las regulaciones en EE.UU.It’s essential to stay informed and conduct thorough research before making any investment decisions.Monitor the market closely, and be prepared for both potential gains and potential risks.

Key Takeaways:

• Analyst predicts Bitcoin reaching $63,000 in October.
• The prediction is based on the stock-to-flow model.
• The prediction is gaining attention because of PlanB's previous accurate calls.
• Several factors could contribute to Bitcoin reaching this target.
• Investors should be aware of the risks involved.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Bitcoin (BTC) was keen to retain $44,000 on Oct. 1 as the monthly close sparked a late show of strength. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it first returned to the $44,000 mark Thursday, then test lower levels before heading even higher.Investing in cryptocurrencies carries significant risks, and you could lose your entire investment. PlanB notes that historically, at the peak of Bitcoin bull markets, BTC goes through multiple months with its RSI above 80 characterized by the red dots on his chart. With the monthly RSI quickly approaching 80, and considering BTC s average gains during periods where the indicator was at such levels, PlanB says that he s expecting anAlways conduct thorough research and consult with a qualified financial advisor before making any investment decisions.