Bitcoin has been trading sideways since March, and the third quarter, especially September, has traditionally been a bearish period.<\/p>\n
With the month and quarter approaching the end, analysts are turning bullish again, predicting a long-awaited breakout for BTC and crypto markets.<\/p>\n
On Sept. 18, analyst \u2018RamenPanda\u2019 observed that markets have spent six months going sideways, \u201cyet the price is barely down from the previous high.\u201d<\/p>\n
Bitcoin, which has reclaimed $60,000 again, is just 18% down from its all-time high.<\/p>\n
The analyst added that all the time spent going sideways will end in a big rally.<\/p>\n
\u201cIf you think we won\u2019t have a world shocking of a rally next, you are f**king delusional. All that time spent in sideways will be compensated by upward momentum.\u201d<\/p>\n
Look, we spent 6 months going sideways , yet price barely down from previous high<\/p>\n
Corrections can take place in two forms : price depth or time<\/p>\n
Time based correction, ops, I meant capitulation, is BULLISH AS FUCK<\/p>\n
If you think we won\u2019t have a world shocking of a rally next,\u2026 pic.twitter.com\/00RXuAzINB<\/a><\/p>\n \u2014 RamenPanda (@IamRamenPanda) September 17, 2024<\/a><\/p>\n\n Meanwhile, economist Alex Kr\u00fcger observed<\/a> that \u201csentiment among crypto traders has not been this low since 2022.\u201d Meanwhile, Bitcoin is trading around the same level it was trading six months ago, he added in a post on X on Sept. 18.<\/p>\n On Sept. 17, Capriole Fund founder Charles Edwards said<\/a>, \u201cYou made it through the worst time to be in Bitcoin,\u201d pointing out that Q3 is usually bearish and fourth quarters are usually bullish<\/a>.<\/p>\n Analyst \u2018Income Sharks\u2019 echoed the sentiment, predicting a large upward movement in Q4.<\/p>\n #Bitcoin<\/a> \u2013 If Q4 isn\u2019t exciting after the suspense that\u2019s been building up I don\u2019t know what to say. Price perfectly in the middle of the channel and OBV stuck perfectly in the tip of the wedge. pic.twitter.com\/IOWObF1BV6<\/a><\/p>\n \u2014 IncomeSharks (@IncomeSharks) September 17, 2024<\/a><\/p>\n\n Bitcoin reclaimed $61,000 in late trading on Sept. 17 but has fallen back to around $60,500 during the Wednesday morning Asian trading session. The asset has pulled out of September lows, posting a 6.7% gain over the past week.<\/p>\n The United States central bank is expected<\/a> to cut interest rates on Wednesday, Sept. 18. However, markets remain conflicted over the magnitude of the rate cut.<\/p>\n Currently, the CME Fed Watch tool favors<\/a> a larger cut with 65% odds on a 50 basis point cut versus 35% odds for a smaller 25 bps cut.<\/p>\n Analysts suggest that the larger rate cut<\/a> would be better for high-risk assets such as crypto.<\/p>\n \u201cThe last time the Fed cut rates, Bitcoin went parabolic. If history repeats itself, the next 6-12 months are going to be insane,\u201d commented crypto YouTuber Lark Davis in a post on X on Sept. 17.<\/p>\n The Fed is expected to cut interest rates tomorrow.<\/p>\n The last time the Fed cut rates, Bitcoin went parabolic<\/p>\n If history repeats itself, the next 6-12 months are going to be insane.<\/p>\n h\/t\/ @milkroaddaily<\/a> pic.twitter.com\/GxNtThDDwS<\/a><\/p>\n \u2014 Lark Davis (@TheCryptoLark) September 17, 2024<\/a><\/p>\n\n However, the Kobeissi Letter cautioned<\/a>, \u201cThere has never been a more uncertain Fed meeting on record,\u201d before adding, \u201cRegardless of what the Fed does tomorrow, half of the market will be disappointed.\u201d<\/p>\n The post Analysts Predict End of Bitcoin Consolidation as Fed Rate Cut Looms<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin has been trading sideways since March, and the third quarter, especially September, has traditionally been a bearish period. With the month and quarter approaching the end, analysts are turning bullish again, predicting a long-awaited breakout for BTC and crypto markets. On Sept. 18, analyst \u2018RamenPanda\u2019 observed that markets have spent six months going sideways, […]<\/p>\n","protected":false},"author":0,"featured_media":7632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7631"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7631"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7631\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7632"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Fed Rate Cut Looming<\/h2>\n