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Bitcoin

Bull Market

Crypto analysts forecast a monumental bull cycle for Bitcoin and the broader crypto market, even as BTC struggles to stay above $55K.
Upcoming rate cuts from the US Federal Reserve, a weakening economy, and increased global liquidity from China are factors contributing to what could be the “biggest bull cycle ever,” according to renowned trader and analyst Michael van de Poppe in a Sept.8 <a href="https://x.com/CryptoMichNL/status/1832784788278624552" rel="noopener noreferrer nofollow">post on X</a>.
Pseudonymous analyst Kaleo shares this bullish outlook, telling his 646K followers on X that the market could soon enter its “craziest bull” cycle yet. Both analysts agree that the current macroeconomic conditions are setting the stage for a historic run in the crypto market.
<img decoding="async" src="https://www.fintechnexus.com/wp-content/uploads/2023/05/Unknown-770x578.jpeg" alt="Why do investors believe bitcoin is readying for a comeback? | Fintech Nexus">
<h2 id="span-style-font-weight-400-bitcoin-could-dip-to-45k-before-entering-a-2-year-bull-run-span">Bitcoin Could Dip To $45K Before Entering A 2-Year Bull Run</h2>
Commenting on short-term price movements, van de Poppe said that “liquidity was taken and Bitcoin is back up” to over $54K. He predicted that BTC might rise to $55.5K before “final corrections,” which could lead to the crypto dropping to as low as $45K to $50K. 
But after that the analyst sees Bitcoin entering a two-year-long bull run.
Crypto investor <a href="https://insidebitcoins.com/news/crypto-sentiment-plummets-to-extreme-fear-as-arthur-hayes-sees-bitcoin-plunging-to-50k-after-us-jobs-data" rel="noopener noreferrer nofollow">sentiment</a> is currently fearful, according to the <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer nofollow">Crypto Fear and Greed Index</a>. After dropping 3 points in the last 24 hours, the index currently stands at 26.
Van de Poppe said that the last time the index was this low was during the collapse of FTX. Back then, investors were justified in questioning the future of crypto and the broader Web3 space, said the analyst. 
Now, however, he believes <a href="https://insidebitcoins.com/news/bitcoin-price-plunges-4-amid-weak-us-jobs-data-but-this-new-ico-races-past-1-million-in-just-3-weeks" rel="noopener noreferrer nofollow">BTC</a> is in a “pro-crypto climate from macroeconomic perspectives.”&nbsp;
<h2 id="span-style-font-weight-400-kaleo-sees-craziest-bull-market-yet-span">Kaleo Sees “Craziest Bull Market Yet”</h2>
Pseudonymous analyst Kaleo told his over 646K followers on X that the market could soon enter into its “craziest bull market yet.”&nbsp;&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 I 100% disagree.
 We’ve barely started this cycle and we’ve already had insane moves across memes that were entertaining af (though eventually got a bit played out), entertaining dapps to keep us busy, and a solid airdrop farm every couple of months.
 Last cycle around this time… <a href="https://t.co/Di77OOOm3Q" rel="noopener noreferrer nofollow">https://t.co/Di77OOOm3Q</a>
 — K A L E O (@CryptoKaleo) <a href="https://twitter.com/CryptoKaleo/status/1831906531924746748?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 6, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
“We’ve barely started this cycle and we’ve already had insane moves across memes that were entertaining,” he said. There have also been “entertaining dapps to keep us busy, and a solid airdrop farm every couple of months.” 
If this early activity is a sign of things to come, then BTC and the crypto market could be preparing for the biggest bull run to date, Kaleo said.
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Analysts Predict “Biggest” And “Craziest” Bull Run Yet As Bitcoin Struggles To Stay Above $55K

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