Is an ‘Uptober’ Bitcoin Price Rally Imminent?
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October has historically been a strong month for bitcoin prices, with an average increase of 22% since 2013; bitcoin's price rose to $65,000 after a 50 basis point rate cut by the Federal Reserve; Federal Reserve Chairman Jerome Powell stated the U.S. economy is in a good place; analysts predict October and November will rally if economic indicators remain strong; November has seen an average increase of 47% in bitcoin prices; key economic data releases in October will influence Fed's decisions; the Fed has meetings scheduled for November and December 2024; CME FedWatch indicates a 51% chance of another rate cut in November; four catalysts for October include monetary policy, U.S. economy, the 2024 presidential election, and institutional demand; Kamala Harris expressed support for the crypto industry; Donald Trump aims to make the U.S. a crypto capital; institutional demand is expected to rise with the approval of bitcoin ETFs.
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https://unchainedcrypto.com/is-an-uptober-bitcoin-price-rally-imminent/
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