Can BTC Close The Month At 14K
Welcome to the bull run of 2020! This is actually way more bullish than any BTC bull could have ever imagined! After seeing the Bitcoin price being dragged down to $3900 earlier in the year, many began calling for 3K again after BTC battled it's way up to the 10K mark. There is absolutely no grounds to validate such a prediction apart from a major second market crash, and even in such a scenario, 7K or 8K would most likely hold support. For those who think that BTC has retired from stellar gains, the biggest monthly close taking place in 2020 could completely negate that view.
Even if BTC does not close at 14K, October 2020 will still go down in history as one of Bitcoin's best months to date. This truly is very impressive and is currently creating a lot of positive investor sentiment among retail and corporate investors alike. The mainstream media will most likely probably start pumping Bitcoin news if BTC does actually go on to close at 14K or above.
It is also rather noteworthy that the stock market is currently dumping and has been falling since approximately the 21st of October. In the same time frame, BTC has been climbing higher. This is very key and has been discussed in numerous posts on Sapphire Crypto. The market is however still at the mercy of whales, so we will see how this actually plays out in the next few days.
ETH Attempting To Keep Up With BTC
On the daily chart, it is clear that ETH has been in a fresh uptrend since the 24th of September and is trying desperately hard to keep in step with BTC. Ethereum has shown more strength than many other alts over the same period and is perhaps starting to forge it's own path.
Ethereum above $400 is at least rather comfortable and not too far off of recent highs. If you are a hodler then BTC and ETH are looking like the obvious choices. ChainLink is still miles away from the recent high of $20 but I have a sneaky suspicion that LINK is getting ready for another surprise blast.
With 5 days to go, let's see if BTC can pull off a close at 14K! Although, some sideways action looks more probable but you never know with BTC. Once the moon boots come on, predictions become laughable speculations.
