TechFlow news, cryptocurrency service provider Matrixport said in a report on Wednesday that, in terms of performance, the final quarter of this year is historically the strongest quarter for Bitcoin (BTC), with an average return of over 35% in the past nine years.
Research head Markus Thielen wrote: "If history is any guide, Bitcoin could reach $37,000 by year-end."
The report stated that October is a particularly strong month, with positive Bitcoin returns in seven out of the past nine years, averaging a 20% return.
Matrixport's technical analysis shows that Bitcoin has recently issued a new breakout signal. The model was triggered ten times previously, and each time prices rose more than 9% on average in a short period.
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