The cryptocurrency markets have left the summer behind, and many analysts are predicting the start of an expected uptrend with the fall. Data from the last 12 years show an average return of 98% in the fourth quarter of the year. In addition, it is stated that FTX owes approximately $11.2 billion to creditors and Binance Founder Changpeng "#CZ " Zhao's release from prison on September 29 could trigger a rise in cryptocurrencies.
5 Key Indicators That Signal a Bull Run
Rate Cuts: The recent rate cuts by the Federal Open Market Committee (FOMC) have created a positive atmosphere in the crypto markets. Especially after the 50 basis point cut on September 18, cryptocurrency inflows exceeded $300 million.
Fourth Quarter Data: According to historical data, cryptocurrencies are expected to perform strongly in the fourth quarter of the year. The average of the last 12 years offers a return of 98%.
CZâs release: Changpeng Zhaoâs release from prison could boost investor confidence, leading to price increases. CZ is a prominent figure in the crypto world.
FTX Refunds: The start of refunds after the FTX crash could help increase prices by providing liquidity to the markets.
Election Impact: The US elections on November 5th will play a major role in the crypto market. Historically, markets have seen a recovery after elections.
The Future of Manta Network
$MANTA Price predictions for the Network predict a 228.02% increase to $2.69 by October 24, 2024. Current market sentiment is neutral, with the Fear & Greed Index set at 54. Over the last 30 days, Manta Network has shown a price volatility of 8.52%, with 14 days closed in the green.
Technical Indicators
According to technical analysis results, #MANTA Network's 200-day SMA is expected to fall to $1.40, and its 50-day SMA is expected to fall to $1.26. The Relative Strength Index (RSI) is at 63.98, which indicates that the current market situation is neutral.
Conclusion
All these factors could herald a bullish period for Manta Network and the overall crypto market. Developments that may occur by the end of the year could trigger a potential bull run. Investors can take the right steps by following market dynamics.
