Bitcoin Market Outlook: Cowen Dem Scenarios and Q4 Forecast
IntoTheCryptoverse founder Benjamin Cowen yan don explain three possible ways di Bitcoin market fit move based on how e dey for di 20-week simple moving average (SMA). If Bitcoin bounce from $109,283 and come climb pass the 20-week SMA, Cowen talk say e fit take back im market lead, make money commot from altcoins. If Bitcoin no fit hold dat level, e fit drop go di 50-week SMA, wey go make altcoins lose value sharp sharp. Another way na if e just dey move sideways around di 20-week SMA, altcoins value still fit go down but Bitcoin market share go increase. Analyst Axel Bitblaze talk say September go weak based on history, but e expect say quarter four go strong. E talk say spot Bitcoin ETFs wey dey soak supply, expected interest rate cuts, and global liquidity wey dey rise go make market get more movement and price go increase for end of di quarter. Normally quarter four na good time for Bitcoin, so traders suppose ready make sure say dem dey watch moving averages, macro liquidity, and ETF flows well to understand di market and altcoins risk.
Bullish
Dis analysis dey bullish for Bitcoin and di koko crypto market. Cowen dem scenario show say Bitcoin fit regain top position if e fit hold di key moving averages, meanwhile Bitblaze Q4 forecast base on di past strong performance for di fourth quarter, ETF money wey dey come in, expected interest rate cuts, plus increased liquidity. Same kain pattern show for past cycles: Q4 2020 see Bitcoin breakout after halving and anticipation for ETF approval, and Q4 2021 get another rally even with earlier altcoin corrections. Short term traders suppose ready for September wahala as moving averages and macro data dey unfold. For di long term, ETF-driven demand and good monetary policies fit push sustained rally, increase Bitcoin market share and put pressure on altcoins. Overall, factors dey point to bullish outlook for di rest of di year.