bullish

Bitcoin

<p>Experienced crypto asset investor <strong>Chris Burniske</strong> believes that cryptocurrencies are poised for a new bull run after months of correction. Investors might be ready to breathe a sigh of relief as the market shows signs of recovery.</p> 
<h2 id="technical-analysis-shows-bullish-potential">Technical Analysis Shows Bullish Potential</h2> 
<p>In a recent post on social media platform X, <strong>Chris Burniske</strong> explained that cryptocurrencies have sufficiently cooled after their rise from late 2023 to early 2024. He stated,<br> “Cryptos are emerging from an ‘early bull’ correction that fits textbook technical analysis. The road is still bumpy, but don’t panic—it’s not too late even if you’re still on the sidelines.”</p> 
<h2 id="positive-market-conditions-and-growth">Positive Market Conditions and Growth</h2> 
<p>Burniske highlighted that favorable conditions for cryptocurrencies aren’t just due to interest rates and liquidity. He emphasized the importance of infrastructure maturity, developer experimentation with applications, and user growth.</p> 
<p>“It’s not just favorable interest rates and liquidity that make our asset class promising, but also the maturity of infrastructure and the experiments developers are conducting with applications. Additionally, user growth is continuing, with active addresses more than tripling over the past year, supporting the bullish sentiment.”</p> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-15348" src="https://www.turkishnyradio.com/wp-content/uploads/2024/09/news-article-about-Chris-Burniske-predicting-a-cryptocurrency-recovery-after-a-bull-correction-The-image-s.webp" alt="news article about Chris Burniske predicting a cryptocurrency recovery after a bull correction The image s" width="1792" height="1024" title="Chris Burniske: Cryptocurrencies Recovering from Bull Correction! 20" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/09/news-article-about-Chris-Burniske-predicting-a-cryptocurrency-recovery-after-a-bull-correction-The-image-s.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/09/news-article-about-Chris-Burniske-predicting-a-cryptocurrency-recovery-after-a-bull-correction-The-image-s-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/09/news-article-about-Chris-Burniske-predicting-a-cryptocurrency-recovery-after-a-bull-correction-The-image-s-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"></p> 
<h2 id="global-liquidity-and-market-outlook">Global Liquidity and Market Outlook</h2> 
<p>Last month, Burniske pointed out that the increase in <strong>global liquidity</strong> was preparing cryptocurrencies for a major upward movement.<br> “During the neutralization of investor sentiment and leverage clearing, most quality crypto assets have made significantly higher lows than what we saw in 2023. Meanwhile, central banks globally will be forced to ease—some turbulence in Q3 is possible, but whatever happens, I see a beautiful early bull setup.”</p> 
<p>Following the Fed’s first interest rate cut since 2020 last Wednesday, Bitcoin and the broader crypto market surged. The rate cut, which was over 25 basis points, marked a rare move not seen since 2007 and 2000, with similar large cuts only occurring a few times since 1980.</p> 
<p>As of this writing, <strong>Bitcoin (BTC)</strong> is trading at $62,707, up about 30% from its six-month low of $49,000 in August.</p> 
<h2 id="cryptos-set-for-bullish-momentum">Cryptos Set for Bullish Momentum?</h2> 
<p>Given current market dynamics, it seems likely that cryptocurrencies will enter an upward trend supported by both technical and fundamental factors. In addition to infrastructure improvements and increasing user activity, global economic conditions could reignite investor interest. However, crypto prices don’t always move in the expected direction—cryptocurrencies are always full of surprises.</p>

Chris Burniske: Cryptocurrencies Recovering from Bull Correction!

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