Bitcoin, Ethereum, Solana Rally Towards All-Time Highs: Top Analysts Share Predictions

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Bitcoin (BTC), the leading cryptocurrency, has ignited a notable recovery in the broader cryptocurrency market, recording a 5% gain during Wednesday’s trading session to recover the $117,000 mark. 

This momentum has positively impacted major altcoins, including Ethereum (ETH), XRP, Solana (SOL), and Binance Coin (BNB), which have seen average increases of around 3% in what may signal the onset of a new altcoin season. Crypto Prices Surge Amidst US Government Shutdown

The surge in crypto prices coincided with political developments as the US Senate’s failure to pass a temporary funding bill resulted in a government shutdown shortly after midnight on Wednesday. Related Reading Did Bitcoin Top? Top Trader Warns Of Brutal $98,000 Liquidity Sweep 9 hours ago

Such uncertainty often leads investors to seek alternatives to the US dollar, and cryptocurrenciesare increasingly viewed as a hedge against economic instability. On Wednesday, the dollar remained stable against a basket of other currencies, further bolstering the appeal of digital assets.

Historically, October has been a favorable month for Bitcoin, with the cryptocurrency finishing in positive territory 10 out of the past 12 years. Joel Kruger from LMAX Group also notedthat Q4 has consistently been the strongest seasonal period for cryptocurrencies, adding to the bullish sentiment. However, not all analysts share the same optimistic outlook.  Extended Bull Cycle For Bitcoin?

Ash Crypto expressed caution, suggestingthat the current rally might be a precursor to a more significant downturn, predicting a potential drop that could see Bitcoin retrace to around $106,000 and Ethereum to near $3,800. 

This anticipated correction, he argues, could liquidate overly optimistic positions, particularly among retail investors. He forecasts that this phase of uncertainty could persist until mid-October, potentially leading to a market rebound when bearish sentiment peaks. Related Reading XRP Flips Green For First Time Since 2017, Pundit Predicts 500% Rally 6 hours ago

Conversely, Lark Davis has indicateda more bullish long-term perspective, suggesting that the current cycle may extend well into 2026 rather than peaking in the fourth quarter of the year as traditionally expected. 

The general sentiment remains that if the market can navigate through the short-term fluctuations, a substantial rally could occur, potentially driving Bitcoin to prices between $150,000 and $180,000, with Ethereum reaching between $8,000 and $12,000. 

According to Davis, such a scenario, in which could result in a major 53% and 200% for BTC and ETH respectively, could catalyze a significant altcoin season, with some assets potentially increasing in value by 10 to 50 times within just a few months. The 1-H chart shows BTC breaking free from its consolidation phase that saw the token range between $108,000 and $116,000. Source: BTCUSDT on TradingView.com

When writing, Bitcoin trades at $117,130, further posting gains of nearly 8% on the monthly time frame. This positions the market’s leading cryptocurrency just 5.7% below its all-time high, currently at $124,100,

Featured image from DALL-E, chart from TradingView.com