---
title: "Bitcoin (BTC) Price May Soar to an All-Time High Soon, But There’s a Catch"
url: https://diffcoin.com/bitcoin-btc-price-may-soar-to-an-all-time-high-soon-but-theres-a-catch/
description: "Some analysts believe BTC's latest pump could be the starting point of a major rally in the short term."
published: 2024-10-16
updated: 2024-10-16
author: "Mila"
site: "Diffcoin"
---

# Bitcoin (BTC) Price May Soar to an All-Time High Soon, But There’s a Catch

**TL;DR**

- Bitcoin recently surged to nearly $68,000, with analysts predicting a potential rise to $86,000-$90,000 if certain resistance is broken.
- Some believe BTC could hit $100,000 if Donald Trump wins the upcoming US election, due to his pro-crypto stance.

## How High Can BTC Go?

Bitcoin (BTC) has been on a tear lately, with its price tapping a 10-week high of almost $68,000 on October 15. In the following hours, it experienced enhanced volatility to stabilize to its current $67,700 (per CoinGecko’s data).

![BTC Price](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxMDQ4IDcyNyIgd2lkdGg9IjEwNDgiIGhlaWdodD0iNzI3IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyNCUyRjEwJTJGQlRDLVByaWNlLTUucG5nIiBkYXRhLXc9IjEwNDgiIGRhdGEtaD0iNzI3IiBkYXRhLWJpcD0iIj48L3N2Zz4=)

BTC Price, Source: CoinGecko

The impressive resurgence caught the eye of many industry participants, some of whom claimed that “Uptober” is finally here. One popular analyst who chipped in is the X user Ali Martinez.

He believes BTC could explode to a new all-time high of around $86,600 should it break the $67,400 resistance mark. As mentioned above, the asset’s valuation currently trades above the depicted level.

Captain Faibik is another analyst who weighed in. The X user presented a price chart showing that as of the moment BTC is testing a “crucial resistance” of around $68K for the sixth time.

> “If Bitcoin successfully breaks out of the Broadening wedge to the upside, the target would be around 88K-90K,” the analyst claimed.

## More Surges Next Month?

Multiple market observers think November could also be a highly successful month for BTC, assuming Donald Trump wins America’s presidential elections (scheduled for November 5). One popular X user who believes the asset’s valuation will skyrocket to the coveted $100,000 if that is the case is Crypto Rover.

> If Trump wins, [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) is going to $100k! [pic.twitter.com/HKo2HTQ0U9](https://t.co/HKo2HTQ0U9)
> 
> — Crypto Rover (@rovercrc) [October 16, 2024](https://twitter.com/rovercrc/status/1846463590582132794?ref_src=twsrc%5Etfw)

Recall that Trump made a U-turn in the past several months, presenting himself as the right choice for pro-crypto voters and promising to let the industry thrive should he enter the White House as a winner.

According to Polymarket, he has a nearly 60% chance to emerge victorious versus 40.8% for his opponent from the Democratic party – Kamala Harris. National polls, though, indicate that the Republican is currently the underdog with 46.1%, while Harris collects the support of 48.5% of the voters.

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