Market Analysis: October 2024 as the Likely Beginning of a New Crypto Bull Trend

DeFi analyst 0xNobler has reignited market discussions with his predictions that the next bull run will start in October 2024. This forecast is based on his analysis showing that Bitcoin (BTC) cycles typically begin around 170 days after halving and peak 310 days later.

Crypto Market Cycles

According to 0xNobler, understanding market cycles is the key to success in the world of cryptocurrencies. “The cryptocurrency market constantly moves in cycles, and identifying these cycles is very important to profit,” he said in a tweet. These cycles are determined by various factors such as investor sentiment, global adoption, regulatory changes and macroeconomic conditions.

It is especially important to understand these cycles during the post-halving period, when the price of Bitcoin tends to increase significantly. Currently, 150 days have passed since the Bitcoin halving, which took place in April 2024, and, according to 0xNobler forecasts, there are 20 days left until the bull run begins in October. Analysts believe the cycle will peak in mid-2025, but the months of October-November 2024 will be particularly important.

Arthur Hayes' Prediction

Former BitMEX CEO Arthur Hayes also sees signs of an upcoming bull run. Hayes predicts that the bullish trend may start as early as September 2024, based on macroeconomic indicators such as the Federal Reserve's interest rate policies. Recently, the Fed cut the interest rate by 50 basis points. Hayes believes this decision could cause short-term market turbulence, particularly if investor expectations of rising risky asset prices are not met.

Impact of Fed Policy on Bitcoin

Following the recent 50 basis point interest rate cut by the Fed, Bitcoin's price surged from $59,000 to $62,248. This increase has sparked speculation among investors about whether this is the beginning of the anticipated bull run or if there will be a correction first. Investors need to remain vigilant in the coming days as the effects of the Fed's decision may only become fully apparent after the market has digested the information.

Despite potential short-term corrections, many analysts agree that October-November will be the best period for cryptocurrencies this year. Not only is Bitcoin expected to rise, but other cryptocurrencies like Ethereum and various altcoins may also follow the bullish trend. In previous cycles, the end of the year often saw significant price increases. With growing global adoption of Bitcoin and other cryptocurrencies, alongside increasing institutional interest, there is hope that this positive trend will continue.