{"id":94360,"date":"2024-09-23T06:59:27","date_gmt":"2024-09-23T10:59:27","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=94360"},"modified":"2024-09-23T06:59:37","modified_gmt":"2024-09-23T10:59:37","slug":"research-shows-bitcoin-poised-for-rally","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/research-shows-bitcoin-poised-for-rally\/","title":{"rendered":"Research Shows Bitcoin’s Poised for Potential Rally by Year-End"},"content":{"rendered":"\n

The most recent report from 10x Research suggests that Bitcoin may be on the brink of a substantial rally by the end of 2024 while cautioning on potential risks of investing<\/a>.<\/p>\n\n\n\n

\"Research
Research Shows Bitcoin's Poised for Potential Rally by Year-End<\/figcaption><\/figure>\n\n\n\n

The report emphasizes the volatility of the year thus far. However, it also explores a paradigm shift in the context of the cryptocurrency market's seasonal patterns and the combination of forces that drive it.<\/p>\n\n\n\n

Markus Thielen, the founder of 10x Research, articulated in an interview with Cointelegraph that the FTX payout is a “key focus” due to the “proposed $5\u2013$8 billion inflow,” which has the potential to incite bullish sentiment.<\/p>\n\n\n\n

\n

\u201cThere\u2019s a possibility of a melt-up in risk assets, as the Fed [United States Federal Reserve] seems to have raised the level of the S&P 500 at which they would intervene to protect investors, signaling the potential for further rate cuts \u2014 often referred to as the \u2018Fed put.\u2019 As a result, many investors are likely to reposition their portfolios in anticipation of 2025.\u201c<\/p>\n<\/blockquote>\n\n\n\n

Seasonal themes The 10x Research report emphasizes that Bitcoin has historically demonstrated robust performance from October to March.<\/p>\n\n\n\n

The report posits that this trend may recur this year, particularly in light of the previous 2014, 2017, and 2021 market cycles.<\/p>\n\n\n\n

\n

\u201cWhile our contrarian bearish outlook since March\/April was based on various factors, Bitcoin\u2019s 2024 performance has once again followed its seasonal pattern \u2014 just as it did in 2023.\u201c<\/p>\n<\/blockquote>\n\n\n\n

Risks and Catalysts associated with BTC<\/h2>\n\n\n\n

The report examines a variety of external factors that have the potential to influence Bitcoin's end-of-year performance. The expected bolstering of the optimistic momentum is liquidity.<\/p>\n\n\n\n

Macroeconomic conditions, including inflation concerns, US election-related dynamics, and the interest rate decisions of the US Federal Reserve, can influence the price of BTC.<\/p>\n\n\n\n

Despite the alignment of potential bullish catalysts<\/a> for BTC, the report advises investors to exercise caution, emphasizing the asset's history of drawdowns of up to 70% in previous cycles:<\/p>\n\n\n\n

\n

\u201cThe two key levels to watch for Bitcoin are the previous cycle high of $68,330 and the 21-week moving average […] Managing trades around these levels is essential for effective risk management […] This may involve selling during volatile periods, even at less-than-ideal levels.\u201d<\/p>\n<\/blockquote>\n\n\n\n

BTC Rally Amid Gold Surge<\/h2>\n\n\n\n

Gold, a risk-off asset, has experienced a new all-time high of over 5% since September 9 due to interest rate decreases and geopolitical tensions.<\/p>\n\n\n\n

Since then, crypto analysts have been exchanging predictions regarding the potential impact of BTC's price on the outcome of this substantial increase in gold prices.<\/p>\n\n\n\n

On September 18, the Federal Reserve \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>implemented a 0.5% interest rate reduction, which resulted in the risk-off commodity reaching a new record high price of $2,629 per ounce as of September 23.<\/p>\n","protected":false},"excerpt":{"rendered":"

The most recent report from 10x Research suggests that Bitcoin may be on the brink of a substantial rally by the end of 2024 while cautioning on potential risks of investing. The report emphasizes the volatility of the year thus far. However, it also explores a paradigm shift in the context of the cryptocurrency market’s […]<\/p>\n","protected":false},"author":12,"featured_media":92031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[15019,18973,8331],"class_list":["post-94360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin-3","tag-bitcoin-rally","tag-research"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/Bitcoin-Miner-Revenue-Drops-57-from-2024-Peak-in-August.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/94360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=94360"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/94360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/92031"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=94360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=94360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=94360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}