Earlier, many experts predicted that the fourth quarter of 2024 would be a highly favorable period for the cryptocurrency sector, especially for the top two cryptos, Bitcoin and Ethereum. A recent post on X by an expert, identified as Ether Nasyonal, gives more clarity to the Q4 crypto bullish prediction. Let’s hear what he has to say!
Bitcoin’s Historical Bull Cycles
In his X post, Nasyonal clearly explains when exactly can the Bitcoin market expect a mega bull run. As per his analysis, nearly 670 days post the major bottom of a market cycle we can expect a mega bull run in the Bitcoin market. Can we expect a mega bull run in Bitcoin soon? Nasyonal’s view encourages us to think optimistically about the possibility of an upcoming mega bull run.
The #Bitcoin mega bull process started at the end of 670 days, starting from the major bottom point of each cycle.$BTC Mega bull process usually starts in Q4! pic.twitter.com/FOSXB70g5e
— EᴛʜᴇʀNᴀꜱʏᴏɴᴀL 📈 (@EtherNasyonaL) September 16, 2024
Why Q4 Is Significant for Bitcoin
Analyzing the Bitcoin Quarterly Return trend, it is evident that Q4 has always been a favorable period for Bitcoin. Since 2011, only five times have the market shown a negative return, compared to eight in Q3. In the previous Q4, the market showcased a return of +56.6%. Notably, in 2020, the market recorded a massive return of +169.7% – the highest since 2018. Nasyonal also highlights the significance of Q4 in his post. It is clear that he is anticipating the predicted mega bull run to happen this Q4.
Bitcoin Market Landscape: An Overview
Looking at the one-day chart of BTC, the Bitcoin price stands at $58,528. Clearly, the price has weakened considerably since the mid-March peak. At the start of this month, the price was at $58,963. It slipped to a bottom of $53,948 on September 6. Supported by six to seven consecutive bullish candlesticks, the price climbed to a monthly peak of $60,506 by September 13. However, the momentum could not be sustained by the market, so it again dropped, but now is making a desperate attempt to pull up.
In conclusion, what Ether Nasyonal conveys through his X post is hope. Interestingly, his hope does have the backing of a historic trend related to market cycle behavior. All eyes are on Bitcoin. Will BTC mark a comeback this Q4? Let’s wait and see!
Also Check Out: Ethereum-to-Bitcoin Ratio Reaches Three-Year Low: What to Expect from ETH Price Next