Will Bitcoin Hit $6K in October?
Bitcoin is quickly rebounding from its dramatic price drop just a few weeks ago when China banned ICOs and shut down all cryptocurrency trading and exchanges, effectively closing the world’s second largest economy to cryptocurrencies. The price of Bitcoin plummeted from a high of just over $5,000 to just above $3,000 in a matter of days. However, since then Bitcoin has steadily rebounded and recorded a 5% gain over the past 24 hours to put the current price at $4,200 as of this writing.
For a rundown on what happened in China, watch this exclusive explainer by CryptoGuyz.
Long-time Bitcoin analysts and long-time traders Tone Vays and Squeeze believe Bitcoin will be back in the $5,000 range soon and predict that if the upward momentum is sustained over the next few days that bitcoin will hit $6,000 in October.
What do the numbers say?
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