Bitcoin (BTC) has recently surpassed the $120,000 mark, climbing to $122,068 and moving closer to its all-time high. Market optimism is building for October, with analysts from Bull Theory projecting that prices could reach as high as $143,000 this month. This would represent a potential 20% gain, supported by historical performance and current technical signals suggesting record levels could soon be tested.
Historical data further strengthens this outlook. According to CoinGlass, Bitcoin has closed October in positive territory in 10 of the past 12 years, averaging gains of 20.62%. The only exceptions were 2014, with a -12.95% drop, and 2018, with -3.83%. Moreover, years when September ended in the green often led to strong October performances. For example, after a 2.35% gain in September 2015, Bitcoin surged 33.49% in October; similarly, a 3.91% rise in September 2023 was followed by a 28.52% October rally. Based on these patterns, BTC could potentially climb to $143,539, while even a more conservative average return of 14.71% could push prices toward $136,000.
Analyst Michaël van de Poppe also noted that if current momentum holds, Bitcoin may reach $150,000 by the fourth quarter. The likelihood of new record highs in October is bolstered by seasonal trends combined with technical breakouts, though increased volatility is expected once fresh peaks are hit. Key short-term indicators to monitor include weekly closes and Bitcoin’s behavior around the 20-week moving average.