Summary
- Today, Bitcoin broke the $65,000 level, marking its best September ever.
- Market predictions forecast a 60% chance that BTC will hit a new ATH by the end of 2024.
Today, Bitcoin’s price marked a significant surge, surpassing the important level of $65,000 for the first time since August 1, this year.
At the moment of writing this article, BTC is trading above $65,000, up by over 3% in the past 24 hours.
Although, at one point, earlier today, BTC traded close to the $62,000 level, the coin rebounded and its price surged close to $65,700, before a slight correction.
BTC is up by over 9% this month, and the most important digital asset is about to close its best September of all time.
Best September of All Time for BTC
While a while ago, analysts and naysayers were predicting a bearish September for the coin, judging on past historical prices and BTC’s seasonality, multiple factors led to another result.
Bitcoin is seeing its best September so far.
Apart from 2024, another year in which Bitcoin had a successful September was 2019 which saw the coin gaining over 6% during the month.
Also, as Bitcoin extended its gains beyond $65,000 today, it seems that there are high chances that the coin will hit a new ATH this year.
A 60% Chance that BTC Hits a New ATH by the End of 2024
According to the Kalshi prediction market, there’s a 60% chance that Bitcoin will hit a new all-time high by the end of this year.
According to their data, Bitcoin’s chances for a new ATH this year are rising in September after at one point their forecast reached a probability of over 75% this month.
As we recently revealed, there are more reasons to be bullish on Bitcoin in Q4 2024 and the overall crypto industry.
Bitcoin kicked off a significant price rally ahead of the FOMC meeting last week on September 18 and continued its race after the Feds decided to cut interest rates.
Today, the price of BTC surged even more following the latest US data which showed a 3% annualized growth for the economy.