September 27, the bitcoin price recorded a five percent gain within a 24-hour period, increasing from $3,930 to $4,115.

Bitcoin analysts and long-time traders including Tone Vays and Squeeze have reaffirmed their short-term interim targets of $5,000.

Squeeze further emphasized that if the current upward momentum of bitcoin can be sustained over the next few days, it is likely that bitcoin will achieve a new all-time high price in the region of $6,000 within the next month.