With the start of the long-awaited Uptober, market experts were very bullish on Bitcoin’s future prospects. In line with this, a cryptocurrency analyst has identified a major catalyst that could push Bitcoin to novel all-time highs (ATH) in Fourth quarter (Q4) 2024.

Bitcoin Focuses on Recent ATH in Q4

Over the past few days, Bitcoin has experienced a period of ups and downs the price is rising rapidly at the end of September, after an earlier decline. The cryptocurrency confirms analysts’ predictions for a bullish fourth quarter recent price movements.

According to CoinMarketCap data, Bitcoin has increased by approximately 1.03% in the last seven days, ending September on a positive note. Given the cryptocurrency’s positive momentum in September, cryptocurrency analyst Eric Crown did predicted on X (formerly Twitter) that Bitcoin could surge to novel record highs in the fourth quarter.

The Crown based its predictions on Bitcoin’s historical performancewith particular emphasis on the months following September. He revealed that historically, whenever Bitcoin closed a green September, there was a bullish trend every time in the fourth quarter.

Following this trend, Crown surmises that Bitcoin’s close in the green in September was the main catalyst for the bullish rally. As a result, it predicts that the average return per Bitcoin in the current fourth quarter would amount to nearly 170.42%.

If you remove a few major outliers, a more realistic expectation of potential gains is a modest return of 50%. Calculation Bitcoin price prediction using these percentage returns would boost the cryptocurrency to $173,344 with a 170.42% return and $96,153 with a 50% return.

While overall, Crown remains bullish on Bitcoin’s price prospects, Crown has also done so revealed in a more recent post on X that October generally saw little Bitcoin appreciation in the first 10 days. This analysis is also apparent in Current Bitcoin price which is down 0.69% today and currently stands at $63,976.

Given this trend, Crown forecasts that Bitcoin’s price will likely bottom out early in the month before the anticipated bullish rally to novel highs begins.

Analysts confirm a green quarter for BTC

According to cryptocurrency analyst Kaizen, Bitcoin prices in October from 2013 to 2023 were 80% of the green value. Analyst too revealed that in every election year in the United States, the fourth quarter months were 100% green. Moreover, every year after Bitcoin’s positive close in September, there was always a green October.

Following this recurring historical trend, Kaizen notes that yes The fourth quarter could be extremely bullish for Bitcoin. He emphasized that not only is 2024 an election year, but Bitcoin recently closed September on a positive trend, and as a result, the cryptocurrency may become preparing for an vital rally.

Featured image created with Dall.E, chart from Tradingview.com