Bitcoin ( $BTC  ) closed September with gains of over 5% and bulls extended the gains on the first day of the new month, pushing the price above the strong resistance of $117,500.
CoinGlass data shows that a positive monthly close in September has historically been followed by an average return of over 53% in the fourth quarter. If history repeats itself, BTC could rise to $170,000 before the end of the year.

Another positive sign is that analysts expect BTC to mimic gold's strong rise. Cryptocurrency analyst and entrepreneur Ted Pillows stated in a post on X that BTC follows gold with an eight-week lag, and he expects the fourth quarter to be important for BTC.