The cryptocurrency market has been buzzing with anticipation for a potential bull run in the fourth quarter of 2024, especially for Bitcoin and Ethereum. Experts have been weighing in on the possibilities, and now, a prominent crypto analyst, Ether Nasyonal, has added his voice to the conversation.
In a recent post on X, Nasyonal has shared his insights on when we might see a massive rally in the Bitcoin market.
Let’s dive into understand what he has to say.
Nasyonal’s post breaks down the possible timing of a major Bitcoin bull run. He explains that Bitcoin often experiences a strong rally around 670 days after the major bottom of a market cycle. If this pattern holds, a big move could be coming soon. Could Bitcoin be on the verge of another bull run? Nasyonal’s analysis gives us reasons to be hopeful.
When looking at Bitcoin’s performance over the years, Q4 has usually been a strong period. Since 2011, the market has only posted negative returns five times in Q4, compared to eight times in Q3. Last year, Bitcoin’s return for Q4 was +56.6%. In 2020, the market saw a massive return of +169.7%, the highest since 2018. Nasyonal highlights these trends in his analysis and believes that Q4 2024 could follow a similar pattern, potentially leading to a major bull run.
Currently, Bitcoin is priced at $58,528, down from its mid-March peak. At the start of this month, it was at $58,963, then dropped to a low of $53,948 on September 6. A series of bullish candlesticks helped Bitcoin climb to a monthly high of $60,506 by September 13, but the momentum didn’t last. Now, the market is trying to regain strength, and many are watching to see where the price will go next.
Ether Nasyonal’s analysis brings hope, supported by Bitcoin’s historical patterns. As we enter the final quarter of 2024, all eyes are on Bitcoin. Will the cryptocurrency stage a big comeback in Q4? The outlook is promising, but only time will tell.
Also Check Out: Ethereum-to-Bitcoin Ratio Reaches Three-Year Low: What to Expect from ETH Price Next
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