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Cryptocurrency News Articles
Bitcoin (BTC) Primed for Q4 Surge as October Historically Marks the Month of Rise: Unipcs
Sep 30, 2024 at 09:54 pm
Bitcoin's BTC/USD 8% uptrend over the past 30 days is seen by traders as a precursor to what may be coming in the year's final quarter.
Bitcoin (CRYPTO: BTC) traders are looking ahead to the final quarter of the year with optimism, especially considering BTC/USD is up 8% over the past 30 days.
Here’s a look at what some traders are saying about what may be in store for Bitcoin in Q4.
‘Millionaire Trader’ Bullish On Bitcoin In Q4, Especially In Election Years
“Millionaire trader” Unipcs noted on Twitter that out of the past ten Octobers, Bitcoin has closed up in value eight of those times.
“Also interesting to note that in election years, Bitcoin has performed well in Q4 of the year.”
With the U.S. and China both cutting interest rates aggressively and the U.S. elections now 36 days away, the trader said the environment is setting up well for crypto bulls.
“Also interesting to note that in election years, Bitcoin has performed well in Q4 of the year.
With both U.S. and China cutting rates aggressively and the election now 36 days away, it seems like a good environment for crypto bulls.”
Unipcs also highlighted the upcoming distribution of FTX’s stimulus, which may boost the crypto market further.
“Stimulus will be paid out to users who hold at least 100,000 points (roughly $16 billion) on March 24.”
CryptoQuant Founder: Bitcoin Still In Bull Cycle
CryptoQuant founder Ki Young Ju noted on Twitter that Bitcoin is still in the bull cycle as its market cap is growing faster than realized cap.
“Bitcoin is still in a bull cycle (realized cap < market cap).”
Back in May, the analyst predicted that Bitcoin will peak in April 2025 based on this signal.
“Based on the realized cap < market cap signal, Bitcoin will peak in April 2025.”
Crypto Trader Jelle Noted On Monday that Bitcoin may break out again later in the week with a shallow higher low forming.
“Shallow HL forming, might see another breakout later this week.”
The trader also highlighted that with Q3 now over, Bitcoin’s performance in the fourth quarter is worth noting.
“Also interesting to note that in previous Q4’s, Bitcoin has performed well on average, with an average return of 88% and a median return of 57%.”
One more day until Q4 starts, and Q3 is behind us.
We move from what tends to be the worst-performing quarter of the year, into what tends to be the best-performing quarter of the year.
Average return for Q4: 88%
Median return for Q4: 57%.
We're in for a ride.
#Bitcoin pic.twitter.com/nHACNroSVm
Bitcoin’s 22% Rally Isn’t Enough, It Must Break August High To Overcome Downtrend, Bitfinex Analysts Say
Data From IntoTheBlock
Large transaction volume increased by 6.05%, daily active addresses rose by 4.9% and exchange netflows are down by around 70%.
With prices making positive moves, 86% of Bitcoin holders are in profit and 5% are at breakeven.
Disclaimer:info@kdj.com
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