"Fall may finally be here, but any impending Crypto Winter still seems far away. On Friday, Bitcoin continued its five-day rally to near $124,000, mere hundreds of dollars from an all-time high that the leading cryptocurrency notched in mid-August. And for longtime crypto watchers, the start of October is living up to its "Uptober' nickname. Despite volatility in stock prices spurred by the U.S. government shutdown, the price of Bitcoin has been steadily climbing since last Sunday, with investors egged on by a Thursday report from JPMorgan analysts who predicted it could reach $165,000 by the end of the year, citing Bitcoin's utility as a hedge against the devaluation of fiat currencies."
"Not everyone agreed with JPMorgan's rosy prognostication. Alex Blume, the founder and CEO of the investment advisor Two Prime, described Bitcoin's recent gains as a "precarious rally" in commentary shared with Fortune, arguing that it might be caused by investors expecting a fourth-quarter rally. Still, Blume pointed out that even stock prices are trending upward, meaning that the market is reacting to broader monetary policy, including the Federal Reserve cutting interest rates. "There's pretty much no other way to foresee the future other than more money printing, a net benefit for BTC," he wrote."
Bitcoin extended a five-day rally to near $124,000, within hundreds of dollars of its mid‑August all‑time high, fueling October's 'Uptober' momentum. The price climbed steadily despite stock volatility tied to the U.S. government shutdown, aided by a JPMorgan analysis forecasting a possible $165,000 year‑end value and framing Bitcoin as a hedge against fiat devaluation. Investors increased allocations amid tariff concerns, and JPMorgan noted Bitcoin's valuation remains low compared with gold. Ethereum rose about 9% to roughly $4,500. Some market participants cautioned the rally could be precarious and linked to expectations of looser monetary policy.
Read at Fortune Crypto
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