In the ever-evolving world of cryptocurrency, the fourth quarter of 2024 is expected to be a particularly exciting time. Many experts have forecasted a highly favorable period for the cryptocurrency sector, focusing especially on the top two cryptos, Bitcoin and Ethereum. A recent post on X by an expert known as Ether Nasyonal sheds more light on the Q4 crypto bullish prediction. Let’s delve deeper into his insights!
Bitcoin’s Historical Bull Cycles
In his X post, Nasyonal provides a detailed analysis of when the Bitcoin market can anticipate a massive bull run. According to his research, approximately 670 days after the major bottom of a market cycle, we can expect a significant bull run in the Bitcoin market. This analysis encourages optimism regarding the possibility of an impending mega bull run for Bitcoin.
Why Q4 Is Significant for Bitcoin
By examining the Bitcoin Quarterly Return trend, it becomes clear that Q4 has consistently been a favorable period for Bitcoin. Since 2011, the market has only shown a negative return five times during Q4, compared to eight times in Q3. For instance, in the last Q4, the market displayed a return of +56.6%. Remarkably, in 2020, the market recorded an astounding return of +169.7%, the highest since 2018. Nasyonal emphasizes the importance of Q4 in his post, suggesting that the anticipated mega bull run could occur this Q4.
Bitcoin Market Landscape: An Overview
Examining the one-day chart of BTC reveals that the Bitcoin price currently stands at $58,528. The price has seen a significant decline since its mid-March peak. At the beginning of this month, the price was $58,963. It then dropped to a low of $53,948 on September 6. Supported by six to seven consecutive bullish candlesticks, the price surged to a monthly peak of $60,506 by September 13. However, the market could not sustain this momentum, and the price has since dropped, now making a determined effort to recover.
In summary, Ether Nasyonal’s post on X conveys a message of hope. Interestingly, this hope is supported by historical trends related to market cycle behavior. All eyes are on Bitcoin as we look forward to Q4. Will BTC make a significant comeback this Q4? Only time will tell!
