Real Vision analyst Jamie Coutts believes that Bitcoin (BTC) could finish the year much higher as the crypto king chops around.
In a new video update, Coutts says that market liquidity is starting to increase, setting up Bitcoin to rally in the final four months of the year when the flagship cryptocurrency generally performs well.
“I think people in crypto get very focused on the short term. The things that drive crypto long-term are things like liquidity, and that certainly has improved…
Zooming out, I think the conditions are there for a pretty strong Q4. September is always pretty shitty when you look at Bitcoin over the years. But it is the Q4 period where Bitcoin tends to sort of do rather well. So it could trade heavy from here. Barring any sort of major escalations or unforeseen geopolitical things, I think Q4 will still be a pretty strong quarter.”
Bitcoin is trading for $56,087 at time of writing, down more than 3% in the last 24 hours.
The analyst also suggests altcoins may break out before the current cycle ends.
“I think at this point in the cycle, there’s still decent returns to be made over the next six to 12 months, maybe a bit longer…
We’ve had this 40% to 50% pullback in a lot of the altcoins. And should we see a resumption in strong liquidity aggregates in Q4 and then Q1, things are going to rip…
It’s still pretty sluggish like there is only a small percentage of coins that are outperforming Bitcoin in this market, and you need that as really a clear sign that that is reversing, that you’re going to start to see sort of momentum come back into that space.”
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