Matrixport: Bitcoin price may soar in October, potentially reaching $37,000 by the end of the year

ChainCatcher news, cryptocurrency service provider Matrixport stated in a report on Wednesday that the last quarter of this year is historically the strongest quarter for Bitcoin (BTC), with an average return of over 35% over the past 9 years.
Research director Markus Thielen wrote, "If history is any guide, Bitcoin could reach $37,000 by the end of the year." The report noted that October is a particularly strong month, with Bitcoin's return being positive in 7 out of the past 9 years, averaging a return of 20%.

Matrixport's technical analysis shows that Bitcoin has recently sent new breakout signals. In the last ten instances that triggered this model, its price averaged an increase of over 9% in a short period.