As a seasoned researcher with over two decades of experience in financial markets and cryptocurrencies, I find Quinten François’ analysis compelling and well-grounded. His insights are rooted in a deep understanding of Bitcoin’s market dynamics, and his predictions align with my own observations. The timing of the bull run, as suggested by the 170-day average cycle after the halving event, seems plausible given the historical trends.
According to crypto expert Quinten François, a specific cycle indicator points towards an imminent Bitcoin price surge – a new bull market is almost upon us. François emphasized various key factors indicating a positive outlook for Bitcoin during this upcoming bullish trend.
The Bitcoin Bull Run Could Be Two Months Away
In an X (formerly Twitter) post, Quinten reminded the crypto community that the average cycle starts 170 days after the Bitcoin halving. He added that it has been 121 days since the halving event, meaning the bull run could be two months away and possibly begin sometime in October.
In an upcoming post on X, the crypto expert emphasized that Bitcoin is poised for a new bull market. He pointed out that Germany has ceased selling its Bitcoins and the outflow from Grayscale’s Bitcoin Trust (GBTC) has significantly decreased. Moreover, Quinten suggested that global liquidity is expected to increase again, which may lead to an influx of funds into Bitcoin in the near future.
Creditors of FTX may soon receive their payouts, and it’s predicted by Quinten that a significant portion of this money will likely end up being invested in Bitcoin. Furthermore, the amount of Bitcoin held on exchanges is presently at record low levels, suggesting that investors are actively buying up large amounts of this leading cryptocurrency. The majority of these investors appear to be institutions, as they’ve been amassing over 450 newly mined Bitcoins each day, according to the crypto analyst.
After emphasizing these positive indicators, Quinten predicted that the long, sleepy summer period is nearly done and the upward trend for Bitcoin and other digital currencies is imminent. He also presented a graph suggesting that during this bull run, Bitcoin might climb as high as $250,000, reaching its maximum potential in this market cycle.
According to Quinten, the projected price of Bitcoin is influenced by its historical pattern of price fluctuations between the bottom and peak of each cycle. He also suggests that the upcoming US election could play a significant role in determining Bitcoin’s price, particularly during the last quarter of the year, as he sees positive prospects for Bitcoin in this period.
What The Bull Run Will Look Like
Crypto expert Smiley Capital recently shared his thoughts on what a potential bull market might entail. He suggested that Bitcoin could surge so significantly that it temporarily stuns or freezes the entire market. During this period, there may be intervals where Bitcoin’s price stabilizes following extraordinary gains, causing a reset in open interest (OI). Once this occurs, Bitcoin is expected to resume its upward trajectory.
Following BTC‘s price movement, Smiley predicted that Ethereum would experience a more powerful rally, causing a surge in the entire cryptocurrency market. This could result in extraordinary gains for altcoins over extended periods, perhaps weeks or months. However, he cautioned that there might be temporary corrections to reduce leverages, but he believed these coins would rebound strongly from their current low levels.
Currently, as I’m typing this, Bitcoin is approximately valued at $60,600, marking a 2% increase within the past 24 hours, based on information from CoinMarketCap.
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2024-08-23 05:11