Bitcoin (BTC) Analysis: Will Q4 Bring Positive Returns?
Bitcoin's Historical Performance in Q4
Bitcoin's price typically struggles in Q3 but has recorded an average increase of 26% every fourth quarter since 2019. For instance, BTC surged from $26,000 in October 2023 to $44,000 by December. However, 2022 saw a steady drop due to market crises.
Assessing Current Market Conditions
The Realized Price, currently at $31,400, offers critical support for Bitcoin. To expect upward momentum, this level must not act as a resistance point.
Price Predictions and Market Analysis
At present, BTC trades at $59,551, with the 200-day Exponential Moving Average (EMA) indicating a possible price decline if unable to surpass this indicator. The Chaikin Money Flow (CMF) suggests reduced buying pressure. However, historical data hints at a potential 24% gain in early Q4, possibly boosting prices to $71,974.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.