Bitcoin, the flagship cryptocurrency, has reclaimed the $120,000 stage for the primary time since Aug. 14 on the Bitfinex alternate.
The main cryptocurrency is at the moment altering palms at $120,020 on the favored buying and selling platform, steadily approaching its present file excessive of $124,128.
The highest coin has seen a relentless rally amid the continuing U.S. authorities shutdown, which has seemingly bolstered the case for a non-sovereign protected haven.
It’s price noting that each the S&P 500, the primary inventory market index, and gold hit new file highs right now, which is relatively uncommon. Each risk-on and risk-off property are rallying amid expectations of two extra fee cuts in 2025.
How excessive can Bitcoin surge throughout ‘Uptober’?
In keeping with Polymarket bettors, there’s a 35% likelihood of Bitcoin hitting $130,000 this October. On the identical time, Bitcoin is predicted to prime $126,000 by the overwhelming majority of market individuals.
There’s additionally a 4% likelihood of the main cryptocurrency surging all the best way to $150,000 throughout this month.
The chances of Bitcoin skyrocketing to $200,000 inside a single month at the moment stand at simply 1%.
