Bitcoin (BTC) to new price record in October? Swiss bank Dukascopy thinks so

It is a question that many bitcoin (BTC) investors up at night. When will the price of bitcoin finally reach a new one? all time high? At the moment the price looks very positive, but of course it is impossible to predict the future.

Dukascopy

However, a major bank from Switzerland, Dukascopy, is quite positive. Yesterday this bank made a technical analysis known about the price of the largest cryptocurrency and the prediction that followed looked nice.

In the analysis, Jean-Francois Owczarczak talks about the possible scenarios of the bitcoin price. According to him, the price of bitcoin is somewhat linked to the price of the Nasdaq, the major American stock exchange in New York. He states that both are currently in a solid uptrend. He does indicate that he expects a small correction in the short term because the Nasdaq is currently overbought is.

Nevertheless, the uptrend will continue, Owczarczak said. After a regression of the prices of the Nasdaq and of bitcoin, there will be a considerable price movement upwards. This may continue well into the spring of next year.

According to him, this will ensure that sometime at the end of October bitcoin will just be the previous one all time high can tap. He then expects that support is found and that the price of bitcoin will eventually set new all-time highs.

“Our stance is that we can get back below $40,000 or even around $35,000 first over the next few weeks. After that, the foundation will slowly be laid in October/November and then accelerate […]. We believe that from then on we will have new highs can put down.”

He also indicates that the ‘risk index’ they use is currently very low. So there is still quite a bit of room to go further up.

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