An October forecast provided by nine panelists from personal finance comparison site, finder.com, has revealed that the return of the bulls is no longer far away.
In fact, the forecast expects top cryptocurrency Bitcoin to accumulate around 16% gains in October. If this eventually happens, then the coin will rise to about $10,319 with Press time slight hovering above $6500.
The press release by finder.com confirms that some of the panelists gave bullish predictions about the coin and even see a $20,000 price as attainable. On the other hand, a sizeable number of the panelists believe that the lowest point that Bitcoin can test this year is $5200.
Monero (XMR) and Ethereum (ETH) is predicted to see massive gains from now till Nov 1 even though both coins have underperformed in September. Price growth over this period for XMR and ETH is expected to be 43% and 37% respectively.
From now until the end of the year, many altcoins will also surge, but ETH is likely to be the most significant gainer among the top ten cryptocurrencies. A 79% prediction appears so bullish but may be considered achievable because the coin has plummeted in recent months and is due for a comeback.
Moving further Bitcoin Cash (BCH) total market cap has been predicted to increase by 17% at the end of the year though the hard fork will only grow by 1% from now till Nov 1.
Doomsday Prediction For XRP and LTC
Unlike many other top cryptocurrencies covered by the finder panelists, XRP and LTC will suffer a slight dip even though the former has performed so well in September.
From now until the start of November, the altcoins will see 8% and 3% drop according to the predictions.
The reason for the expected dip is the upcoming decision regarding two cryptocurrency ETF applications submitted to the U.S SEC.
Any negative decision will likely result in a negative crypto market performance, and the panelists claim that they have put this into perspective before releasing the latest forecast.
In the long run, investment decisions should be based on personal research even though the chances a crypto market bull run is more likely than not to happen.
