Bitcoin Price Hits $65,000, Effects of #Uptober?

Bitcoin price is up and reaching over $65,000. Is this increase because #Uptober is coming or is it just a coincidence and BTC price will go down again tomorrow? Check out the explanation in this article.

Yesterday, Bitcoin received a prediction that its price would increase, today this prediction came true. Bitcoin Price rose to a level of more than $65,000 today.

Is it true that the increase in BTC prices is because #Uptober has come as predicted? Or will this price increase only last today and will decline again tomorrow?

Check out the detailed explanation by reading this article to the end.

Bitcoin Price Chart Today

After Bitcoin experienced a continuous decline in price for a long time, today Bitcoin finally penetrated the $65,710 level with an increase of +2.46%. In fact, within 24 hours, Bitcoin reached its highest price of $66,499.

You can see a screenshot of the Bitcoin price chart above taken from the Bitrue market. The BTC RSI indicator reached 65, which is a good number in the buying trend because it is more dominant than the selling trend. However, this dominance is still within reasonable limits, not overbought.

The MACD line is clearly visible rising. The two lines also have a clear distance so that the bullish trend will come soon.

So, we can be optimistic that today's Bitcoin price increase is the beginning of BTC's bullishness until the end of 2024. In fact, it is predicted that it will experience a price increase until 2025 based on its performance cycle in the last 4 years.

Bitcoin Dominance in the Crypto Market

Bitcoin has indeed become the dominant coin in the crypto market. With today's price increase, BTC dominance is at 58.04. This dominance figure is indeed relatively high, but has decreased by 0.06%.

The price of Bitcoin is like the price of other crypto tokens which experience price fluctuations every day. However, it cannot be denied that Bitcoin has had a fantastic price increase since its first appearance.

Larry Fink, CEO of Blackrock, even stated that Bitcoin could be considered a quality investment asset that could compete with gold.

Bitcoin, which has penetrated the investment stock market, is also increasingly recording major achievements. Bitcoin ETF inflows reached $23 billion and are predicted to continue experiencing significant growth in the future.

Conclusion: the Rising of BTC Price and #Uptober Optimism

#Uptober 2024 seems to be weakening in its presence. Moreover, there are many factors that make the arrival of this annual tradition seem late or even absent this year. However, today's Bitcoin price increase is good news and makes the crypto community optimistic about the presence of #Uptober.

#Uptober is predicted to come in mid-October around October 17/18. If the price of Bitcoin remains at $65,500, it means that #Uptober has really come.

For those of you who want to know about #Uptober developments, Bitcoin prices, and the condition of other coins in the crypto ecosystem, the Bitrue website is the answer. You can access the Bitrue website every day wherever you are for free.

Do a price check BTC to USD, BTC to USDT, and against the prices of other crypto tokens as a comparison. You can easily use all the features on Bitrue to do independent research before deciding to buy BTC coins or other crypto tokens.

About Bitrue

Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.

This press release has also been published on VRITIMES