Research Firm Predicts Bitcoin Breakout For Q4: 4 Key Reasons
The post Research Firm Predicts Bitcoin Breakout For Q4: 4 Key Reasons appeared on BitcoinEthereumNews.com. Matrixport, a digital asset financial services group born from Bitmain, an industry leader in Bitcoin mining, projects a bullish breakout for Bitcoin in the upcoming fourth quarter of 2024. In their latest research report titled “Matrix on Target: Bullish Prospects for Bitcoin in Q4,” the firm provides four reasons to be bullish in the upcoming weeks. #1 Narrowing Trading Range Signals Breakout Matrixport’s analysis begins with a technical assessment of the recent Bitcoin price action. Historically, Q3 has posed significant challenges with frequent breakout failures. This year, however, Bitcoin has demonstrated a notably narrowing trading range, a pattern typically preceding significant price volatility. “The constriction of price movement is often a precursor to dynamic price shifts, suggesting an impending breakout,” the report notes. #2 Monetary Policy As A Bitcoin Catalyst A pivotal aspect of the report focuses on the US Federal Reserve’s interest rate policies. Currently, the Fed maintains a rate of 5.25%, in contrast to a 3.0% inflation rate. Related Reading However, recent comments from Fed Chair Jerome Powell have ignited speculations of a possible rate cut with the September FOMC meeting. “If inflation follows the projected path, an interest rate cut in the September meeting is possible,” Powell indicated. Matrixport’s analysis correlates these potential rate cuts with increased market liquidity, which historically benefits risk assets like Bitcoin. “Each quarter-point reduction by the Fed could inject substantial liquidity into the market, enhancing the appeal of non-traditional assets,” the report elaborates. #3 Impact Of The US Presidential Election The upcoming US Presidential election also features prominently in Matrixport’s forecast. The firm speculates on the impact of a potential re-election of Donald Trump, noting his previous administration’s relatively hands-off approach to crypto regulation. “A re-election of Trump could renew vigor in regulatory reform or laxity, providing a less uncertain landscape for…
The post Research Firm Predicts Bitcoin Breakout For Q4: 4 Key Reasons appeared on BitcoinEthereumNews.com.
Matrixport, a digital asset financial services group born from Bitmain, an industry leader in Bitcoin mining, projects a bullish breakout for Bitcoin in the upcoming fourth quarter of 2024. In their latest research report titled “Matrix on Target: Bullish Prospects for Bitcoin in Q4,” the firm provides four reasons to be bullish in the upcoming weeks. #1 Narrowing Trading Range Signals Breakout Matrixport’s analysis begins with a technical assessment of the recent Bitcoin price action. Historically, Q3 has posed significant challenges with frequent breakout failures. This year, however, Bitcoin has demonstrated a notably narrowing trading range, a pattern typically preceding significant price volatility. “The constriction of price movement is often a precursor to dynamic price shifts, suggesting an impending breakout,” the report notes. #2 Monetary Policy As A Bitcoin Catalyst A pivotal aspect of the report focuses on the US Federal Reserve’s interest rate policies. Currently, the Fed maintains a rate of 5.25%, in contrast to a 3.0% inflation rate. Related Reading However, recent comments from Fed Chair Jerome Powell have ignited speculations of a possible rate cut with the September FOMC meeting. “If inflation follows the projected path, an interest rate cut in the September meeting is possible,” Powell indicated. Matrixport’s analysis correlates these potential rate cuts with increased market liquidity, which historically benefits risk assets like Bitcoin. “Each quarter-point reduction by the Fed could inject substantial liquidity into the market, enhancing the appeal of non-traditional assets,” the report elaborates. #3 Impact Of The US Presidential Election The upcoming US Presidential election also features prominently in Matrixport’s forecast. The firm speculates on the impact of a potential re-election of Donald Trump, noting his previous administration’s relatively hands-off approach to crypto regulation. “A re-election of Trump could renew vigor in regulatory reform or laxity, providing a less uncertain landscape for…
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