Bitcoin bull run is almost here, according to crypto expert Quinten François, who recently brought attention to a cycle indicator. In preparation for this bull run, the crypto expert emphasized many factors that show Bitcoin in a positive light.
Possible Two-Month Wait for Bitcoin Bull Run
The usual cycle begins 170 days after the Bitcoin halving, as Quinten reminded the crypto community in an X (previously Twitter) tweet. The bull run, he said, may start as early as October, given that 121 days had passed since the halve event.
The crypto researcher went on to say in a later X post that Bitcoin is in the ideal position to start its bull run. He made the observation that the German government has stopped selling its Bitcoin assets and that there has been a significant decrease in withdrawals from Grayscale's Bitcoin Trust (GBTC). Quinten also pointed out that global liquidity is poised to surge once again, which means that Bitcoin is likely to get additional liquidity in the near future.
According to Quinten, the majority of the funds owed to FTX creditors will be invested in Bitcoin once they get their reimbursements, which are supposedly imminent. Meanwhile, the supply of Bitcoin on exchanges is at an all-time low, suggesting that investors are buying the flagship cryptocurrency at a rapid pace. The crypto researcher found that these investors are hoarding more than 450 BTC, the amount that is mined every day, thus it is safe to assume that they are mostly institutions.
After pointing out these positive factors, Quinten said that the tedious summer is nearly over and that the cryptocurrency market is set to see a bull run. In terms of how far Bitcoin may go during this bull run, Quinten provided a graphic indicating that the flagship cryptocurrency could hit $250,000 at the market cycle's apex.
The prior bottom-to-top price movement of Bitcoin in its respective cycles was used to arrive at this price projection. In spite of the promising fourth quarter for the flagship cryptocurrency, Quinten thinks the US election may have a major influence on BTC's price.
Typical Conditions for a Bull Run
When the bull run in cryptocurrencies starts, it may look like these predictions from analyst Smiley Capital. A "paralyzes the entire market" rise, he said, will occur in Bitcoin. He went on to say that after "face-melting rallies," Bitcoin would experience consolidation periods that will cause the open interest (OI) to reset. That being accomplished, the upward trend in BTC will resume.
The whole market was lifted by Smiley's prediction of an even greater surge for Ethereum after BTC's completion. The result will be "weeks, months of inhumane moves" for cryptocurrencies. much though the analyst predicted short-term declines to eliminate leverage, he or she also predicted that these currencies would see much stronger rallies from their current low points.
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