Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Tuesday, July 8
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Bitcoin»Wait Until Q4 2024 for BTC Prices to Rally
    Bitcoin

    Wait Until Q4 2024 for BTC Prices to Rally

    August 22, 20243 Mins Read


    Looking at the formation in the daily chart, Bitcoin bulls are struggling for momentum. Despite the expansion on August 8, reversing losses of August 5, buyers didn’t follow through, meaning traders are waiting for more confirmation before diving in.

    The lack of activity in the past few trading days means prices are inside a bull flag and trending within the August 8 bull bar. Although buyers are upbeat, the dull range is expected, especially looking at historical performance after Halving.

    CryQuant CEO: Bitcoin Will Likely Rally In Q4 2024

    Taking to X, Ki Young Ju, the CEO and founder of CryptoQuant, notes that prices trend to consolidate whenever the network half events. This sideways movement tends to last for the better part of the year before prices soar in the last quarter as whales intervene.

    In the last bull cycle, when Bitcoin halved network rewards in 2020, prices moved sideways, and prices only inch higher in the last quarter of the year. Comparing the current state of price action to what happened then, it is highly likely that Bitcoin will recover. Ju said this bullish outlook is because “whales won’t let Q4 be boring with a flat YoY performance.”

    Bitcoin likely to rally in Q4 2024 | Source: @ki_young_ju via X
    Bitcoin likely to rally in Q4 2024 | Source: @ki_young_ju via X

    Analysts consider Bitcoin Halving a bullish event, at least looking at how prices have evolved. Whenever the network halves miner rewards, the coin becomes deflationary.

    Half the number of tokens finds its way to the circulating supply. Prices will tick higher if the demand remains the same (or rises).

    Impact of Spot ETFs, Miner Liquidation, And Interest Rates Cut

    The expected supply crisis following the Halving on April 20 is why most analysts still believe the coin will break all-time highs. This confidence is due to the approval of spot Bitcoin ETFs in January. Since then, leading issuers, including Fidelity and BlackRock, have bought billions of dollars worth of BTC.  

    Besides the institutional demand for BTC, miners have decreased their liquidation. The hash rate fell after weak miners offloaded billions of coins in June. However, the hash rate has improved in the past few weeks, pointing to renewed confidence from miners who bought new gear to stay competitive despite the lower rewards.

    Bitcoin price trending sideways on the daily chart | Source: BTCUSDT on Binance, TradingView
    Bitcoin price trending sideways on the daily chart | Source: BTCUSDT on Binance, TradingView

    In September, the United States Federal Reserve will likely slash interest rates. As inflation falls and the central bank eases, investors may consider BTC a hedge against inflation. This will favor bulls, who might build momentum and break all-time highs.

    Feature image from Canva, chart from TradingView



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleChina’s Kaisa Group flags US$1.2 billion first-half loss amid home sales slump, write-down
    Next Article Canadian Utilities Limited (TSE:CU) Receives Average Rating of “Hold” from Brokerages

    Related Posts

    Bitcoin

    Trader légendaire Bollinger: Bitcoin Configuration de Breakout

    July 7, 2025
    Bitcoin

    Babylon dévoile 2025 la feuille de route avec Bitcoin multi-stake et EVM Mainnet Launch

    July 7, 2025
    Bitcoin

    La résistance potentielle du marché haussier de Bitcoin: 115 000 $ ou 223 000 $?

    July 7, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Bitcoin

    Les principales cryptomonnaies progressent : le Bitcoin se maintient au-dessus de 107 000 $

    June 30, 2025
    Stock Market

    Nasdaq edges higher as Nvidia, AMD lead chip gains

    May 14, 2025
    Stock Market

    Stock market open or closed today for MLK, Inauguration Day?

    January 20, 2025
    What's Hot

    Is It Over? Germany Sends the Last of Its Bitcoin to Exchanges

    July 12, 2024

    Dallas committee reviewing investment strategy of police and fire pension amid shortfall – NBC 5 Dallas-Fort Worth

    August 23, 2024

    Who picks up utility poles and wires left after Hurricane Beryl cleanup?

    August 27, 2024
    Most Popular

    Stock Market Sectors: Stock market update: Mining stocks down as market falls

    October 31, 2024

    Funds offering protection from volatility fail to deliver in sell-off

    August 8, 2024

    Recent inflation data ‘do add somewhat to confidence’ Fed can cut rates: Powell

    July 15, 2024
    Editor's Picks

    Brutal Selloff Skims Froth From Japan’s $6 Trillion Stock Market

    August 11, 2024

    Why global growth is tepid, but commodity prices remain high

    July 1, 2024

    Bitcoin Is Not Yet a ‘Store of Value’ Asset, Says SkyBridge Capital Founder

    August 22, 2024
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.