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Bitcoin Ends September with 11% Gain, Best September Ever, Analysts Optimistic for Uptober
Sep 30, 2024, 01:04 PM
Bitcoin is poised to end September 2024 with a nearly 11% gain, defying its historical trend of negative returns for the month. This performance marks the best September ever for Bitcoin, with the price currently around $63,000, and the third highest monthly closure. Historically, a strong September has often led to bullish trends in the fourth quarter, a period that has typically been favorable for Bitcoin. Analysts are optimistic about the upcoming 'Uptober,' a term coined to describe Bitcoin's historically strong performance in October. Despite some bearish indicators, such as resistance levels and high open interest reaching $35 billion, market sentiment remains cautiously optimistic. The S&P 500 also had a strong September, posting a 5.1% gain for the quarter, marking its best year-to-date performance since 1997. As Q4 begins, both Bitcoin and traditional stock markets are showing signs of continued bullish momentum.
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