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“Historical data points to a bull run for Bitcoin” Crypto analyst Bittel Julien expects a rally for #Bitcoin (BTC), which has fallen by 10.85 percent in the last month. Leading cryptocurrency $BTC defied all market predictions last month. Despite crypto investors’ bullish expectations, BTC, which has been declining since August, fell to $52,000. Bullish expectations began to decline as the Fear and Greed Index showed the “Fear” level. Crypto analyst Julien likened the declines to the 2019 cycle. Bittel Julien, who discussed the price movements of Bitcoin (BTC) in 2019, claimed that history would repeat itself. Underlining the current consolidation phase, Julien stated that the volume loss in question lasted 175 days. “As in the 2019 cycle, BTC is stuck in a similar consolidation phase,” said the analyst, arguing that if $BTC continues the same scenario, it will make a significant increase. The analysis showed that BTC rose from $ 7,200 to $ 10,000 in 2020 after a long consolidation. AMBCrypto, which supports Julien’s bullish scenario based on the historical cycle, said the following: “Market behavior shows accumulation, which indicates the investor’s confidence in potential future price gains. This is a bullish signal, and increasing accumulation results in buying pressure that pushes prices up.” The analysis stated that long-term investors still hold #BTC despite the price declines, and that this situation gives an important signal about “belief.”

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Is Bitcoin (BTC) on the mend? The famous analyst commented. A technical indicator called the Chande Momentum Oscillator (CMO) is signaling a potential price reversal for BTC. #Bitcoin (BTC), which has experienced a significant 10 percent drop in the past two days, is now preparing for a reversal, as shared by a crypto expert. On September 7, 2024, crypto analyst Trader Alan shared a post on X (formerly Twitter) stating that the technical indicator called the Chande Momentum Oscillator (#CMO ) is signaling a potential price reversal for Bitcoin. According to the indicator, BTC could rise to $57,500 in the coming days and then to $65,000. After reaching an all-time high of $73,777 in March 2024, BTC has been moving in a descending channel pattern ever since. The analyst noted that when #BTC reached the bottom of the channel pattern, the technical indicator CMA touched the recovery trigger zone, and the price of BTC began to recover significantly and rise. Looking at the cyclical price movements, it seems that $BTC is likely to rise to $57,500 and $65,000 in the coming days. As of writing, #BTC is trading at $54,480, up 0.8 percent in the last 24 hours. In addition, trading volume fell by 25 percent in the same period, indicating that traders are cautious due to the recent market sell-off. BTC’s open interest has remained stable over the last 24 hours. However, it has been steadily decreasing since September 3, 2024, indicating a decrease in investor interest.

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Elon Musk’s DOGE signal: Dogecoin bull may be near. Elon Musk surprised everyone by sharing a post coded as “#DOGE ” based on the US presidential elections. Elon Musk may come up with the idea of representing himself as the head of a new government agency if former US President Donald Trump is elected president in the November 2024 elections. As expected, Musk shared the idea on the X social media platform using an ambiguous expression referring to cryptocurrency and politics. The post featured an AI-generated image of Musk sitting behind a desktop sign with the letters “$DOGE ” on it. The image was accompanied by the text “Department of Government Efficiency.” Dogecoin reached a 24-hour peak in the hours following Musk’s post. However, as of the writing of the news, it has remained below the peaks of previous weeks for the last seven days. Trump recently promised to establish a government efficiency commission. Musk retweeted the video of Trump’s remarks with his own commentary, saying “this is needed.” The billionaire tech mogul appeared to have promised to contribute to the political committee, but refrained from saying he would accept an official government position. It is currently unclear whether #Musk is seriously considering a government position. The US presidential election in November will be very important for cryptocurrencies. Donald Trump’s positive outlook on the sector could trigger a new bull run.

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Ethereum (ETH) critical data: All eyes on altcoins! ETH liquidity on US exchanges has fallen by as much as 40 percent since spot $ETH ETFs began trading. Ether liquidity has fallen by 20 percent in US markets since the launch of nine ETFs in July. The drop in liquidity raises concerns and, more importantly, indicates greater sensitivity to large orders. With shallow market depth, it follows that even small transactions can cause large price changes. Jacob Joseph, a research analyst at CCData, said liquidity is still better than at the beginning of the year, but has fallen by almost 45 percent since its peak in June. This is mainly due to weak market conditions and seasonal effects, as fewer transactions occur in the summer months. Spot #ETH ETFs were expected to increase liquidity, as did Bitcoin ETFs launched earlier this year. However, this did not happen. Ether ETFs have seen cumulative outflows of over $500 million since their launch. This has contributed to an overall decrease in liquidity, making markets even more volatile. The decrease in liquidity is actually a challenge for both investors and traders. In low liquidity situations, slippage (the opening of the price range for buying and selling) is much higher. The big problem is that institutional investors want their markets to be stable and have good liquidity. If the number of transactions from these big players decreases, a vicious cycle of even lower liquidity and prices can begin. For now, #ETH is trading at around $2,258, down more than 4% in the last 24 hours.

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Analysts' BTC price prediction: If Trump is elected, the rally will begin! Bernstein analysts have made a Bitcoin price prediction based on who wins the US presidential election. According to analysts at research and brokerage firm Bernstein, the US presidential election could determine Bitcoin's fate. If Republican candidate Donald Trump wins, analysts expect Bitcoin to reach new highs and approach the $80,000 to $90,000 range by the end of the 4th quarter. If current Vice President Kamala Harris is elected, they predict that $BTC will break the $50,000 support and return to the $30,000-$40,000 range where the spot #ETF agenda began. Bernstein had previously set a Bitcoin price target of $200,000 for BTC by the end of 2025, $500,000 by the end of 2029, and $1 million by the end of 2033. Bernstein analysts have made a Bitcoin price prediction based on who wins the US presidential election. According to analysts at research and brokerage firm Bernstein, the US presidential election could determine Bitcoin’s fate. If Republican candidate Donald Trump wins, analysts expect Bitcoin to reach new highs and approach the $80,000 to $90,000 range by the end of the 4th quarter. If incumbent Vice President Kamala Harris is elected, they predict that #BTC will break the $50,000 support and return to the $30,000-$40,000 range where the spot ETF agenda began. Bernstein had previously set a price target of $200,000 for BTC by the end of 2025, $500,000 by the end of 2029, and $1 million by the end of 2033. Analysts said the crypto industry is much closer to Trump. Trump seems hellbent on making the US the #Bitcoin and crypto capital of the world. The former US president often mentions these topics in his speeches. He also touches on policies such as making the US a Bitcoin mining hub, appointing a crypto-friendly SEC chair, and creating a national strategic BTC reserve. In contrast, Harris has not touched on crypto in any of her speeches or policy statements.

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