Is a Bull Market Approaching? Analyst Predicts Bitcoin Rally in “15-20 Days”
As the US Federal Reserve cuts interest rates, some view it as a positive sign for Bitcoin, while others warn of an impending recession.
According to popular analyst Crypto Rover, historical trends after Bitcoin halvings indicate that a bull market could begin in 15-20 days as we near the end of an accumulation phase.
CryptoQuant CEO Ki Young Ju also supports this sentiment, noting that past post-halving rallies typically start in the fourth quarter of each halving year. He believes that significant market movements can be expected in the coming months.
These technical and historical factors have led to speculation that Q4 2024 could be a crucial period for Bitcoin, with the possibility of reaching six-figure prices by 2025.
One major catalyst for this forecast is the upcoming US presidential election, which is expected to bring new all-time highs for Bitcoin due to positive drivers regardless of the election outcome. It is anticipated that the elected candidate will adopt a more favorable approach to cryptocurrency regulation, creating a supportive environment for the asset class.
However, there is skepticism among analysts who view the US Federal Reserve’s interest rate cut as a potential precursor to a looming recession. In the past, significant rate cuts have often signaled economic downturns. This has led some to argue that the rate cut may indicate underlying economic weaknesses rather than directly fueling a bull market.
While the initial impact of the rate cut may boost Bitcoin and other cryptocurrencies, concerns about a broader economic slowdown could dampen long-term optimism. Analysts suggest that there may be a 15-20% drawdown to new lows once the initial excitement wears off and worries about the economy take hold.
It is important to note that investing in crypto is high-risk, and this article is for informational purposes only and should not be considered investment advice.
