$BTC Bitcoin is currently experiencing a strong rally in October 2024, with its price hovering near $68,500, driven by various factors. Analysts are optimistic about a further rise, with some predicting it could reach $70,000 to $75,000 by the end of the month. This surge is attributed to factors such as increasing institutional interest, particularly from BlackRockâs Bitcoin ETF, and ongoing accumulation by âwhalesâ (large Bitcoin holders) ïżŒ ïżŒ.
Additionally, geopolitical tensions, such as the Middle East conflict, are also seen as potential catalysts for Bitcoinâs price rise, as some investors view it as a safe-haven asset during uncertain times ïżŒ. Overall, Bitcoinâs outlook for the remainder of October looks promising as it heads towards a new peak.
