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.
Hereâs 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.