Bitcoin is consolidating between $60,000 and $62,000, but analysts predict a major price breakout soon.

From Investing.com

October 9th, 2024 3:00:20 pm:

Bitcoin (BTC) remains stagnant, with no significant momentum. Trapped in a consolidation range between $60,000 and $62,000, many still anticipate a major price breakout, sticking to the “Uptober” theory for Bitcoin.

Analyst Jelle predicts a potential new all-time high for Bitcoin in the next two to three weeks. Historically, the consolidation phase in summer bull markets ends around late October, hinting at a possible massive price breakout soon.

Currently trading at $61,788, Bitcoin has seen a 1.75% drop in the last 24 hours. Jelle’s analysis suggests the end of the ongoing “chop season” for BTC, paving the way for new highs by the end of October or early November.

Read more at Investing.com: Bitcoin (BTC) on Verge of Biggest Breakout in Price History: Details By U.Today