Keep an Eye on Bitcoin in the Fourth Quarter: These Levels Will Come with Increased Demand!
CryptoQuant analysts stated that there is a stabilization in Bitcoin demand, but if demand increases, the price could rise to between $85-100,000 in the last quarter.
According to analysts in the latest report of on-chain data platform CryptoQuant, Bitcoin demand is showing signs of stability. However, analysts state that a greater demand increase is needed in the fourth quarter to increase the price.
Drawing attention to the fourth quarter for prices, analysts made the following statements:
Since July, demand growth has been stagnant and fluctuates between -23,000 and +69,000 Bitcoins per month. On the other hand, the fact that demand increased by 496,000 Bitcoins in April, when prices approached $70,000, shows that there is room for demand to catch up in the fourth quarter.
Analysts also said that if historical trends continue, demand growth should continue, which should lead to a potential increase in short-term supply.
In September, demand increased, but this alone was not enough to trigger a price rally. Analysts stated that spot Bitcoin ETF demand increased in September and this could increase prices in the last quarter.
Bitcoin targets $85,000 to $100,000 if price recovers
CryptoQuant states that if Bitcoin demand increases and positive seasonal trends occur at the end of the year, the price could target the $85,000-100,000 range in the last quarter.
Analysts made the following statements in their statement:
Bitcoin could target $85,000-$100,000 in the 4th quarter. These levels coincide with the upper limits of the realized price bands on the chain, where short-term investors usually sell to make a profit after price increases.
Stay tuned for new information.
