Analyst questions popular theory of Bitcoin bottoming in October

Cryptocurrency analyst Michaël van de Poppe has expressed skepticism about the theory that Bitcoin (BTC) will bottom out in October of this year. He stated on X that the most overextended view in the market currently is the scenario where BTC forms a bear flag and then hits a bottom in October. According to him, when many people anticipate the same outcome, it becomes less likely to materialize. "The current price base BTC is forming is very strong, and the current market environment is completely different from the 2022 bear market," he added. "I don't see a repeat of the same outcome as in the past." Van de Poppe cited several bullish factors for BTC, including: - The Nasdaq reaching an all-time high - This week's vote on the CLARITY Act - A potential announcement from the U.S. White House regarding a strategic Bitcoin reserve - The issue of the next Federal Reserve (Fed) Chair