Will Bitcoin Hit 100,000 $ in Q4?
The answer lies in past halving cycles.
After each halving, BTC goes through a consolidation phase of about 6 months.
2016: 161 days of consolidation before a breakout
2020: 175 days of consolidation before a breakout
2024: BTC has been in a consolidation phase for 161 days.
This means that there is a high probability of a breakout in the next 2-3 weeks.
Here’s why it could happen:
➬ China prints $280 billion to stimulate its economy
➬ The Fed has started cutting rates
➬ The Bank of Japan (BOJ) has adopted an accommodative policy and stopped raising rates
➬ Trump is leading in polls again
➬ Bitcoin ETFs have started accumulating again
➬ Bitcoin flow to exchanges has reached a very low level, indicating less selling
➬ FTX asset distribution expected this quarter
➬ Russia plans to use crypto for cross-border payments by November
➬ Global money supply (M2) has reached $107 trillion, a new all-time high
In my opinion, the crypto market has not yet factored in all these bullish factors.
Once it does, BTC will reach a new all-time high, followed by large caps.