John Deaton – an attorney representing thousands of Ripple investors involved in the legal battle against the US Securities Exchange Commission (SEC) – believes the price of bitcoin might thrive next month.
Most analysts have recently predicted that BTC could indeed skyrocket in the future, but not before the halving scheduled for the spring of 2024.
Deaton retweeted an X post coming from the US lawyer Joe Carlasare. The latter assumed that October would be a highly successful month for Bitcoin, and he “can’t wait for it.”
He suggested that one factor prompting volatility for the asset’s price will be the news surrounding BlackRock and all the financial giants that filed to launch spot BTC ETF in America. Carlasare reminded that the regulator’s decision date is October 17. However, the SEC might decide to postpone the deadline by another 45 days (as it has happened before).
It is worth mentioning that October has been a historically strong period for the leading digital asset. A Matrixport analysis outlined that BTC has been in the green seven out of the last nine years during that month, forecasting that it could spike to $37,000 by the end of the year (given the circumstances).
In a recent X post, though, the entity advised investors that this price increase is not certain as the crypto market has lately shown a “prevailing bearish trend.”
Numerous crypto advocates, including Adam Back (CEO of Blockstream), Robert Kiyosaki (the author of the best-seller Rich Dad, Poor Dad), Anthony Scaramucci (former White House official), and Tom Lee (Managing Partner at Fundstrat), have envisioned that bitcoin will surpass the $100K milestone sooner or later.
Analysts at Pantera Capital forecasted that this will happen sometime next year after the halving, which will cut rewards for miners in half.
The technical analyst and crypto educator Duo Nine also chipped in recently, suggesting that bitcoin is poised to reach the “realistic” level of $200,000 in 2025.