Cryptocurrency analyst Ran Neuner, through the Crypto Banter channel, stated that an altcoin season could commence in the coming weeks. Neuner highlighted that Bitcoin showcased its best September performance in history, achieving nearly double-digit gains last month. He expressed that this situation sets the stage for a significant rise in Bitcoin during the final quarter of 2024.
Bitcoin's Performance
Neuner emphasized that one of the main reasons for Bitcoin's better-than-expected September results was robust performance in the Chinese market. China's major exchange saw an approximately 20% increase in the last week. With China's economy playing a crucial role in the cryptocurrency market, Hong Kong's crypto-friendly measures and the government's evaluation of Bitcoin ETFs could lead to significant cash inflow.
Neuner noted that Bitcoin's surge would positively impact the altcoin market as well. Predicting significant movements for altcoins like XRP, Solana, Near, and Injective, Neuner highlighted that XRP Coin is aiming for more. He pointed out that XRP has broken its downward trend on long-term charts and could enter an upward trend if market conditions continue to improve.
Future Expectations
Neuner asserted that the last quarter of 2024 could be a period of great optimism for Bitcoin, with a new record high potentially on the horizon. Bitcoin's strong performance may also aid the altcoin market's recovery.
Market participants believe that if Bitcoin is consistently supported and global economic developments progress positively, a general growth trend in the cryptocurrency market could continue. In conclusion, Ran Neuner's predictions indicate that Bitcoin and altcoins could show significant movements in the near future, allowing market participants to capitalize on potential opportunities.
