{"id":632831,"date":"2024-08-02T18:30:39","date_gmt":"2024-08-02T18:30:39","guid":{"rendered":"https:\/\/ktsl888.com\/?p=632831"},"modified":"2024-08-02T12:12:19","modified_gmt":"2024-08-02T12:12:19","slug":"research-firm-bullish-bitcoin-breakout-q4-4-reasons","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/research-firm-bullish-bitcoin-breakout-q4-4-reasons\/","title":{"rendered":"Research Firm Predicts Bullish Bitcoin Breakout For Q4: 4 Key Reasons"},"content":{"rendered":"

Matrixport, a digital asset financial services group born from Bitmain, an industry leader in Bitcoin mining, projects<\/a> 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,\u201d the firm provides four reasons to be bullish in the upcoming weeks.<\/p>\n

#1 Narrowing Trading Range Signals Breakout<\/h2>\n

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. \u201cThe constriction of price movement is often a precursor to dynamic price shifts, suggesting an impending breakout,\u201d the report notes.<\/p>\n

#2 Monetary Policy As A Bitcoin Catalyst<\/h2>\n

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.<\/p>\n

Related Reading: Would Bitcoin Fall Below $60,000 Again? Analyst Reveals A Concerning Trend For BTC<\/a><\/div>\n

However, recent comments from Fed Chair Jerome Powell have ignited speculations of a possible rate cut with the September FOMC meeting<\/a>. “If inflation follows the projected path, an interest rate cut in the September meeting is possible,” Powell indicated.<\/p>\n

Matrixport\u2019s analysis correlates these potential rate cuts with increased market liquidity, which historically benefits risk assets like Bitcoin. \u201cEach quarter-point reduction by the Fed could inject substantial liquidity into the market, enhancing the appeal of non-traditional assets,\u201d the report elaborates.<\/p>\n

#3 Impact Of The US Presidential Election<\/h3>\n

The upcoming US Presidential election also features prominently in Matrixport\u2019s 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. \u201cA re-election of Trump<\/a> could renew vigor in regulatory reform or laxity, providing a less uncertain landscape for crypto innovations,\u201d the report suggests.<\/p>\n

Related Reading: Bitwise CIO On Bitcoin: \u2018We\u2019re Not Bullish Enough\u2019 \u2013 Here\u2019s Why<\/a><\/div>\n

Trump\u2019s recent appearance at the Nashville Bitcoin conference, although not meeting some expectations, was perceived largely positively, signaling potential supportive stances on cryptocurrency if re-elected. Trump promised to sell the Bitcoin previously confiscated by the US government and establish a \u201cnational stockpile\u201d<\/a> of Bitcoin.<\/p>\n

As reported by NewsBTC, this action, if it comes to fruition, could have substantial implications for the game theory of BTC. It could spark a race for a quick allocation, with nations printing money to buy as much Bitcoin as possible.<\/p>\n

#4 Seasonal Patterns Of Bitcoin<\/h3>\n

The report also delves into the seasonal patterns affecting Bitcoin\u2019s performance, highlighting the typically sluggish months of August and September. This pattern is attributed to lower trading volumes during the summer vacation period and market caution in anticipation of economic indicators and central bank policy decisions in the fall.<\/p>\n

However, Matrixport posits that this year\u2019s unique economic and political context could disrupt these usual trends, setting the stage for an unseasonal rally.<\/p>\n

Conclusively, Matrixport maintains a cautiously optimistic stance for Bitcoin’s performance in Q4 2024. “Considering the confluence of a narrowing price range, likely easing of US monetary policy, and the potential impacts of the US Presidential election, we are poised to witness a significant bullish breakout in Bitcoin’s price trajectory,” the report concludes.<\/p>\n

At press time, BTC traded at $64,730.<\/p>\n

\"Bitcoin
BTC price bounces off the 100-day EMA, 1-week chart | Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL\u00b7E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

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,\u201d 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. \u201cThe constriction of price movement is often a precursor to dynamic price shifts, suggesting an impending breakout,\u201d 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: Would Bitcoin Fall Below $60,000 Again? Analyst Reveals A Concerning Trend For BTC 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\u2019s analysis correlates these potential rate cuts with increased market liquidity, which historically benefits risk assets like Bitcoin. \u201cEach quarter-point reduction by the Fed could inject substantial liquidity into the market, enhancing the appeal of non-traditional assets,\u201d the report elaborates. #3 Impact Of The US Presidential Election The upcoming US Presidential election also features prominently in Matrixport\u2019s 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. \u201cA re-election of Trump could renew vigor in regulatory reform or laxity, providing a less uncertain landscape for crypto innovations,\u201d the report suggests. Related Reading: Bitwise CIO On Bitcoin: \u2018We\u2019re Not Bullish Enough\u2019 \u2013 Here\u2019s Why Trump\u2019s recent appearance at the Nashville Bitcoin conference, although not meeting some expectations, was perceived largely positively, signaling potential supportive stances on cryptocurrency if re-elected. Trump promised to sell the Bitcoin previously confiscated by the US government and establish a \u201cnational stockpile\u201d of Bitcoin. As reported by NewsBTC, this action, if it comes to fruition, could have substantial implications for the game theory of BTC. It could spark a race for a quick allocation, with nations printing money to buy as much Bitcoin as possible. #4 Seasonal Patterns Of Bitcoin The report also delves into the seasonal patterns affecting Bitcoin\u2019s performance, highlighting the typically sluggish months of August and September. This pattern is attributed to lower trading volumes during the summer vacation period and market caution in anticipation of economic indicators and central bank policy decisions in the fall. However, Matrixport posits that this year\u2019s unique economic and political context could disrupt these usual trends, setting the stage for an unseasonal rally. Conclusively, Matrixport maintains a cautiously optimistic stance for Bitcoin’s performance in Q4 2024. “Considering the confluence of a narrowing price range, likely easing of US monetary policy, and the potential impacts of the US Presidential election, we are poised to witness a significant bullish breakout in Bitcoin’s price trajectory,” the report concludes. At press time, BTC traded at $64,730. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":632851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,441,656,679,1119,1122,78790,87839],"class_list":["post-632831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-price","tag-btcusdt","tag-matrixport"],"acf":[],"yoast_head":"\nResearch Firm Predicts Bitcoin Breakout For Q4: 4 Key Reasons<\/title>\n<meta name=\"description\" content=\"Matrixport, a digital asset financial services group born from Bitmain, projects a bullish breakout for Bitcoin in the fourth quarter of 2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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