Cryptocurrency Analyst Quentin Francois I recently highlighted a cycle indicator that suggests that Bitcoin Running bull About to begin. The crypto analyst highlighted several fundamentals that paint a bullish picture for Bitcoin ahead of this rally.
Bitcoin price may rise after two months
In X (formerly Twitter) mailQuentin reminded the crypto community that the average cycle begins 170 days after Bitcoin halvingHe added that it has been 121 days since the halving event, which means the rally could take two months and possibly start sometime in October.
later X PostA cryptocurrency analyst has highlighted the perfect setup for Bitcoin to begin a rally. He noted that German government The sale of its BTC holdings has been completed while outflows from Grayscale Bitcoin Trust (GBTC) Bitcoin’s value has dropped dramatically. Moreover, Quentin noted that global liquidity is about to explode again, meaning more liquidity is likely to flow into Bitcoin soon.
FTX Creditors Investors are also said to be on the cusp of getting their payouts, and Quinten believes most of that money will flow into Bitcoin. Meanwhile, the supply of Bitcoin on exchanges is historically low, suggesting that investors are piling into the leading cryptocurrency aggressively. Most of these investors are believed to be Mainly institutionsThe crypto analyst also noted that they are accumulating over 450 BTC, which is being mined daily.
After highlighting these bullish fundamentals, Quentin asserted that the boring summer months are almost over and that the Bitcoin and other cryptocurrencies’ rally is about to begin. As for how far Bitcoin’s price could go in this rally, Quentin said: subscriber Chart showing the leading cryptocurrency could surge to $250,000 at the peak of this market cycle.
This price prediction is based on the Bitcoin price movement in previous cycles from cycle low to cycle high. He believes Bitcoin CEO Jeffrey Bezos said the US election could have a major impact on the price of BTC as he highlighted how the fourth quarter of the year looks good for the leading cryptocurrency.
What will the bull run look like?
Cryptocurrency analyst Smiley Capital recently provided insights on the following: bull racing It may seem like it’s finally starting. Stated who Bitcoin He added that Bitcoin will rise so strongly that it will “paralyze the entire market.” He added that there will be periods of Bitcoin consolidation after “huge rallies,” which will lead to a market reset. Open Interest (OI)Once this is done, the price of Bitcoin will continue its upward trend again.
Meanwhile, after Bitcoin is done, Smiley claims that Ethereum will make a stronger rise, which will lead to the entire market rising. This would lead to Alternative currencies “It’s been weeks and months of inhuman moves.” However, the analyst warned that there will be short-term corrections to erase leverage, but suggested that these currencies will enjoy greater rallies from these lows.
At the time of writing, Bitcoin is trading at around $60,600, up over 2% in the last 24 hours, according to Data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com