2024

United

Bitcoin

<p>The post <a href="https://coinpedia.org/news/top-analysts-predict-final-crypto-capitulation-before-major-recovery-comparing-2024-to-2016/" rel="noopener noreferrer nofollow">Top Analysts Predict Final Crypto Capitulation Before Major Recovery, Comparing 2024 to 2016</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The cryptocurrency market cap continued to shrink, with a drop of around 2.2 percent in the past 24 hours to hover about $2.45 trillion on Tuesday during the New York session. The ongoing cryptocurrency correction, which has triggered heavy crypto liquidation of nearly half a billion dollars, was triggered by the Bitcoin (BTC) price drop below $65k again in the past 24 hours.&nbsp;</p>
<p>Market analysts have argued that the recent notable cash outflows from US-based spot Bitcoin ETFs are a major contributor to the bearish outlook.&nbsp;</p>
<h2 class="wp-block-heading" id="h-is-the-crypto-bull-cycle-over">Is the Crypto Bull Cycle Over?</h2>
<p>Bitcoin price has struggled to rally beyond $72k, thus signalling a possible double-top regarding the 2021 cycle top. According to veteran trader <a href="https://x.com/peterlbrandt/status/1803055796936175946?s=46" rel="noopener noreferrer nofollow">Peter Brandt</a>, Bitcoin’s price against the US dollar could be forming a similar fractal with Gold’s price action after the 2009 market crisis.&nbsp;</p>
<p>As a result, Brandt suggested that Bitcoin price could further dip towards $60k before establishing a rising trend in the coming quarters.&nbsp;</p>
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   <p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/Total3?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Total3</a> is correcting for a few weeks, making many altcoins drop significantly. On the previous cycle it took 162 weeks to break the 2018 all-time high, this altcoin correction could likely end in the coming weeks and enter a massive recovery by Q4 of 2024. <a href="https://t.co/2s1rEzsK0m" rel="noopener noreferrer nofollow">pic.twitter.com/2s1rEzsK0m</a></p>— Bitcoinsensus (@Bitcoinsensus) <a href="https://twitter.com/Bitcoinsensus/status/1803029103542747568?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 18, 2024</a>
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<p>A similar macro narrative has been presented by Bitcoinsensus’a analyst, who argues that the altcoin industry will continue with a bullish outlook during the fourth quarter of this year after establishing a correction bottom in the coming weeks.</p>
<h2 class="wp-block-heading" id="h-what-next">What Next?</h2>
<p>The regulatory clarity in the United States has created a clear path for institutional investors to tap into the web3 industry. Meanwhile, the crypto market is anticipating a final settlement deal between the US SEC and Ripple in addition to listing the approved spot Ether ETFs in the United States.</p>
<p>These major events will act as a catalyst for Altcoin’s overall bullish outlook.</p>

Top Analysts Predict Final Crypto Capitulation Before Major Recovery, Comparing 2024 to 2016

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