CryptoQuant CEO Predicts BTC Market Growth in Q4 2024

CryptoQuant CEO and researcher Ki Young Joo points out the current phase of the Bitcoin market, especially in the context of historical behavior in post-halving periods. According to the chart provided, which shows the cumulative return index of Bitcoin in the years of the procedure, the bullish trend in the previous cycle began in Q4 of the year.

The expert suggests that the situation may repeat itself in 2024. In his opinion, market participants can expect a new bull rally to begin in Q4, given the actions of large Bitcoin holders (whales). Additional analysis shows that previous halvings have traditionally led to significant increases in BTC quotes, especially a few months after the event.

This is due to a decrease in the influx of new coins into the market and, as a result, an increase in demand for the remaining ones. The current phase of the cycle also points to a possible approaching bull rally if the current economic conditions and the behavior of large investors are conducive to it.

The key to understanding the current situation is monitoring the whales’ activity, as their actions often have a significant impact on the market. If they decide to hold their positions or even increase them, this could push the market to new growth. However, it is worth remembering that the Bitcoin cryptocurrency is highly volatile, and even small changes in the mood of major players can lead to sharp price fluctuations.

“It is also important to consider macroeconomic factors such as inflation, central bank policies, and overall economic uncertainty, which may impact BTC dynamics. Combined with historical data and current market conditions, the forecasts may be optimistic, but still require a cautious approach,” market experts believe.