Reserve Dollar

Rally

bullish

Bitcoin

Reserve

<ul> 
 <li>Analysts predict a potential low for Bitcoin this month, followed by a strong Q4 rally based on historical patterns.</li> 
 <li>Economic signals like Treasury yield uninversion and market sentiment shifts are key factors influencing Bitcoin’s expected rally.</li> 
</ul> 
Crypto strategist Josh Rager believes that Bitcoin (BTC) is on the verge of finding its bottom this month after an extended <a href="https://www.crypto-news-flash.com/bitcoin-faces-pressure-gbtc-sell-off-spurs-3-correction-price-hovers-near-60000-experts-warn-of-more-corrections/">correction</a>. He suggests that while the exact timing of BTC’s low may be uncertain, a strong rally is likely in <a href="https://www.crypto-news-flash.com/bitcoin-gearing-up-for-a-parabolic-rally-in-q4-historical-data-suggests-it-might-be/">Q4</a>, supported by historical data showing significant returns during this period in past halving years. 
<blockquote>
 “I honestly want the sentiment to be as low as possible prior to Q4. Usually, turnarounds happen after the worst sentiment possible (outside bear markets).
</blockquote> 
In my opinion, I can’t think of a better signal than people quitting right before things get good.” 
According to an earlier update on this development <a href="https://www.crypto-news-flash.com/crypto-analyst-predicts-bitcoin-bull-run-to-100000-despite-etf-rejections/">reported</a> by CNF, Rager believes that irrespective of the ETF decision, Bitcoin is expected to touch $100,000, and he remains more bullish on Bitcoin (BTC) than ever before. 
Meanwhile, crypto analyst Benjamin Cowen warns of a potentially tough September for BTC, citing historical patterns of negative returns in this month. He also notes the nearing “uninversion” of the 10-year and 2-year US Treasury yields, a signal often associated with economic shifts. 
<blockquote>
 “The 2-year and the 10-year yields are almost un-inverted. If you look at the 2-year, it’s 3.921; the 10-year is 3.907. So they’re actually really close to un-inverting… There’s a chance that you will see the 10-year and the 2-year un-invert in September, which could certainly change things.”
</blockquote> 
This implies that Cowen has been monitoring the near-uninversion of the 10-year and 2-year Treasury yields, a situation that could signal significant economic changes if it completes this month. 
He also highlighted concerns that altcoins might perform poorly against <a href="https://www.crypto-news-flash.com/september-historically-spells-red-for-bitcoin-what-to-expect-from-btc-this-month/">Bitcoin in September</a>, especially if the Federal Reserve proceeds with an anticipated rate cut, drawing parallels to similar market behaviors observed during the last cycle. 
At the time of writing, Bitcoin is trading at $59,220.35, having surged by 3.27% in the past day with a decrease of 6.26% in the past week. 

<div class="cryptoboxes" id="mcw-19491" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="bitcoin" data-symbol="BTC" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="month" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>

Analyst Predicts Bitcoin May Hit Lows This Month Before Q4 Rally

Crypto News Flash

Other articles published on Sep 3, 2024

21Shares’ parent company unveils Ethereum-based wrapped Bitcoin

Boost Your Core Ignition Sparks With IceCreamSwap

Terraform Labs Moves $62 Million in Bitcoin

Weekly Article Recap: 8/19-8/24

Hypernative Secures $16M in Series A Funding Led by Quantstamp to Expand Web3 Security Operations

Top Crypto Gainers Today Sep 03 – Dusk, Axelar, Nervos Network, Bitcoin SV

Join our free newsletter for daily crypto updates!