Bitrabo Editorial
Crypto analyst Quinten François has pointed out a cycle indicator signaling the upcoming start of a Bitcoin bull run. Several positive fundamentals indicate a bullish outlook for BTC as it enters this phase.
Bitcoin’s Potential Bull Run Timing
According to a recent X post by Quinten, the average cycle typically commences about 170 days post the Bitcoin halving event. It has been 121 days since the halving, suggesting the bull run might be just two months away, potentially starting in October.
In another X post, the analyst noted favorable conditions for the impending bull run. Factors include the cessation of the German government’s BTC sales, decreased outflows from Grayscale’s Bitcoin Trust, and anticipated global liquidity expansion, all pointing towards increased Bitcoin investment.
Furthermore, upcoming repayments to FTX creditors are expected to flow into Bitcoin, with low BTC supply on exchanges indicating intensive accumulation by predominantly institutional investors, acquiring over 450 BTC daily.
Quinten projected the conclusion of the uneventful summer season heralding the initiation of the bull run for Bitcoin and other cryptocurrencies. A forecast shared by the analyst suggests Bitcoin could peak at $250,000 during this market cycle.
This projection was based on historical price movements from Bitcoin’s cycle bottom to its peak. Quinten also highlighted the potential impact of the US election on BTC’s price, with a promising outlook for the flagship cryptocurrency in the fourth quarter.
Expected Bull Run Scenario
Crypto analyst Smiley Capital offered insights into the imminent bull run’s dynamics. Anticipating intense rallies from Bitcoin leading to market disruptions, followed by consolidation periods and OI resets, paving the way for continued upward trends.
After Bitcoin’s initial surge, Smiley predicted even stronger rallies from Ethereum, propelling the market higher, resulting in significant price movements for altcoins, albeit interspersed with corrective phases to eliminate leverage positions and subsequent strong recoveries.
As of the latest update, Bitcoin is trading around $60,600, indicating a 2% increase over the past 24 hours, as per data from CoinMarketCap.