Crypto analyst and host of the Crypto Capital Venture podcast predicts a significant Bitcoin bull run. Citing Bitcoin’s recent price action and historical patterns, the analyst highlighted the cryptocurrency’s tendency to surge in the fourth quarter following its halving year.
Bitcoin's Historical October Gains
October is historically a bullish month for Bitcoin. According to Coinglass data, positive returns have been observed in nine of the past eleven years. The analyst also noted that every month of the fourth quarter in the last two Bitcoin halving years saw positive returns for the cryptocurrency.
Impact of Macroeconomic Factors
Turning to macroeconomic factors, the analyst pointed out the historical impact of rate cuts on financial assets. The S&P 500 has posted positive returns 12 months after the initial rate cut 86% of the time. With the Federal Reserve planning a rate cut later this month, a sustained rally across both financial and digital assets is possible.
Future Predictions
Based on historical data and current macroeconomic conditions, the analyst predicts a significant bull run for Bitcoin in the fourth quarter. The market conditions appear favorable for further growth of the cryptocurrency.
In conclusion, historical data and current macroeconomic factors suggest a potential sustained bull run for Bitcoin in the fourth quarter following its halving year.
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