Bitcoin has more room to run in October: A closer look

All right, Bitcoin peaking back above $120,000 on Thursday

and there may be more gas in the tank. October is traditionally a strong month for the cryptocurrency and as Fray joins us now to discuss what has the crypto bulls back in control and s.

Yeah, Miles, and we are seeing Bitcoin at around 120,000 per token.

The second day of the month and for a second day, we've seen Bitcoin rising for October as the Bitcoin Bulls like to put it.

Uh, you have a uh tailwind as far as liquidity is concerned.

You had a headwind back in September with that uh and now it's a tailwind and you've got another tailwind happening and that's the stable coin issuance. That's been accelerating over the last several months.

And that bodes well for the entire ecosystem of crypto because you've got these stable coins that are running on blockchains like Ethereum, like Solana.

You also uh have City Group that has their uh has said that the year end target for crypto is 132,000.

You also they also set a 12-month target uh for Bitcoin uh of 181,000.

And one other interesting note is from Sean Farrell over at Fundstrat and he mentioned the relationship between gold and Bitcoin over the last couple of years.

that they kind of take turns, usually gold front runs Bitcoin.

And uh gold has been overstretched, has been over in sort of overbought territory and now it may be Bitcoin's term.

So he's seeing a that in the next couple of weeks, you could see a bit of a rotation from gold, from analog gold into digital gold as investors pour into uh Bitcoin and other cryptocurrencies.

All right, Ines Fray with the latest on the crypto trade.