Bitcoin Gets 69% Chance for ‘Uptober’ Bull Run According to Artificial Intelligence Analysis

The leading cryptocurrency, Bitcoin (BTC), concluded September with a remarkable 7.35% increase, marking the best September performance in its history, as noted by Spot on Chain. With this momentum, the blockchain service’s AI model anticipates a positive trend for the final quarter of the year, starting in October, which is often referred to as “Uptober.”

According to the AI analysis, there is a 69% likelihood that Bitcoin could achieve a new all-time high this month, and a 54% chance that its price could reach $100,000 by the end of the year.

October’s historical performance also reinforces this positive outlook. Since 2018, Bitcoin has not experienced a decline in October, averaging a gain of 14.2% during this month, with a median return of 12.7%.

This historical data supports the current projections, suggesting that Bitcoin may be poised for a surge as we transition into the fourth quarter. The previous all-time high for Bitcoin was set at $74,000 in March, and there is optimism that the cryptocurrency could soon break that record. The confidence of the AI models, combined with supportive price history, only strengthens this view.

As a result, market watchers are preparing for potential gains, encouraged by Bitcoin’s proven ability to rebound and grow. Many are hopeful that the last quarter will replicate the strong performances that have earned October the title of “Uptober” in years past.