PrimeXBT: How to Trade Bitcoin in Any Market Conditions

As the original digital currency, Bitcoin remains one of the most popular Cryptos to trade. Due to this popularity, its price changes frequently, often having a greater impact on the wider Crypto market. As such, Bitcoin is constantly spotlighted in the media, which closely tracks how the coin is trending and the predictions surrounding its future price.

As a leading Crypto & CFD broker, PrimeXBT empowers Bitcoin traders with all the tools they need to trade in any market conditions. It offers clients various ways to invest in Bitcoin and other Cryptos including purchasing and holding the coins, as well as leveraged trading of derivatives like Crypto CFDs and Crypto Futures.

This article will cover the latest news and predictions about where Bitcoin’s price is going, and how traders can capitalise on the market with PrimeXBT.

Bitcoin Currently Hovering Around $64,000

2024 has been a wild ride for Bitcoin. The Cryptocurrency reached an all-time high above $73,000 in January after the approval of Bitcoin exchange-traded funds (ETFs) resulted in an increase in institutional investment. However, since then, the price has fallen to as low as $53,900 due to various factors including the state of the global economy. Most recently, Bitcoin has been bullish following the U.S. Federal Reserve’s first interest rate cut since the pandemic, which has seen it push back above $64,000. The current positive trend has led to predictions that Bitcoin could now continue its bull run into the end of the year.

Historical Data Suggests October Could be Strong for Bitcoin

Bitcoin’s current performance has led many analysts to adopt optimistic outlooks for the coin in the near future. Historical data supports the bullish sentiment, with Bitcoin typically seen rallying around 150 days after a halving event. With the coin’s last halving having taken place in April 2024, we are currently within that time frame. October has also historically been a stronger month for Bitcoin performance, with average past returns of around +23%, further adding to speculation that the Crypto is due a sustained bullish period.