The crypto market is currently fully in the green zone as major assets experience an upward surge as predicted by analysts. The Uptober season lived up to its expectations as major assets like bitcoin surged in price and flirted around their all-time high mark.
At press time, Bitcoin is exchanging hands for $72,004 just 2.3 % shy of its all-time high of $73,737. Bitcoin has not hit this level since March this year.
Before dropping to the current $72,000, the BTC price level rose to highs of $73,001 across major exchanges, witnessing a 5.7% surge in 24 hours.
This reveals that the bulls touched the psychological $73,000 mark again. While Bitcoin trades just below $72,004 at the time of writing, crypto analysts suggest bulls may not be done yet.
Experienced and Veteran trader Peter Brandt added his voice to the current bullish projection by other analysts suggesting that Bitcoin is headed to $94k.
“ B I T C O I N $BTC There are numerous ways to determine targets. One variable is whether a semi-log or linear scale is used Target of 94,000 is measured as the move of the triangle projected from the breakout level on a semi-log “Brandt Tweeted
The current bullish sentiment in the crypto market is not leading to the upward surge of Bitcoin alone. The developing sentiment has helped push most altcoins higher.
Altcoins like Ethereum are above $2,650, BNB is above $607, and Solana is at $181. Sui is up 24% to $2.03, while meme coins have also pumped, led by Popcat which recorded a 2.54% growth.
Despite the general surge of all crypto assets during the Uptober frenzy, some sectors have outpaced others and could continue to grow.
These sectors include Memecoins. AI tokens, Real-world assets, Bitcoin ecosystem, and decentralized Physical infrastructure network.
Memes led this park with a 219% year-to-date increase while AI tokens follow with 217% YTD then BRC-20 tokens with 217% YTD, while RWA (+134%) and DePIN (+73%) have topped amid the 2024 bull cycle.
Uptober is a phrase created by crypto analysts and industry watchers to mark the historical surge of crypto assets in October usually after a September meltdown.
This year’s Uptober season has lived up to expectations with the month closing on a solid high and Bitcoin flirting around its all-time high.