BTC 1.18%
$61,232.50
ETH 1.52%
$2,369.59
SOL 3.31%
$139.91
PEPE 5.45%
$0.0000090
SHIB 9.39%
$0.000017
BNB 1.82%
$549.16
DOGE 3.79%
$0.10
XRP 0.36%
$0.52
Margex
Easy Crypto Trading

Is a Bull Market Imminent? Analyst Predicts Bitcoin Rally in “15-20 Days”

Bitcoin bull market fed rate cut
While some see the Fed Rate cut as a Bullish sign for Bitcoin, skeptics caution a looming recession.
Last updated:
Junior Content Creator
Junior Content Creator
Harvey Hunter
About Author

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Last updated:
Why Trust Cryptonews
With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews

As Bitcoin finds strength bolstered by the US Federal Reserve’s decision to cut interest rates, one analyst believes we are on the cusp of a bull market.

In a September 19 X post, popular analyst Crypto Rover cited historical post-halving trends as grounds that a “Bitcoin bull market should be starting in 15-20 days” as we approach the end of an accumulation phase.

Bitcoin bull market over past having cycles. Source: CryptoRover / X.
Bitcoin’s bull market over the past has cycles. Source: CryptoRover / X.

This sentiment echoed previous comments by CryptoQuant CEO Ki Young Ju, who noted that past post-halving rallies have typically started in the fourth quarter of each halving year.

Young Ju further emphasized that, in his view, “whales won’t let Q4 be boring with a flat YoY performance,” implying that significant market movements are expected as we approach the end of the year.

These combined technical and historical factors have fueled speculation that Q4 2024 could be a pivotal period for Bitcoin, with a six-figure Bitcoin “still in play” as we move toward 2025.

Big Bull Market Catalyst: The US Election

This forecast aligns with what is expected to be a monumental catalyst: the US presidential election, which is expected to bring new all-time highs due to “positive drivers dominating regardless of the election outcome.”

The elected candidate is expected to bring a departure from the widely critiqued Biden administration’s approach to regulating cryptocurrency, creating a more favorable environment for the asset class.

Former President Donald Trump has been vocal about making the US the global “crypto capital,” while Vice President Kamala Harris has been more reserved. However, reports suggest she may adopt a more balanced regulatory approach.

Ripple’s Chief Legal Officer Stuart Alderoty noted the importance of a new regulatory framework for cryptocurrency in the US.

“The rest of the world has moved on; they’ve recognized the value of the technology, the jobs, the tax dollars, the innovation that it can bring to the economy,” he emphasized.

A Looming Threat: US Fed Rate Cut Fuels Recession Fears

This optimism is met with some skepticism among analysts, who cite the US Federal Reserve’s decision to cut interest rates by 50 basis points as a potential prelude to a looming recession.

The decision has been interpreted as a “crisis” move to control the weakening job market.

Historically, significant rate cuts have signaled economic downturns. The last two instances of 50+ basis point rate cuts—on January 3, 2001, and September 18, 2007—preceded recessions, with the S&P 500 seeing 39% and 54% declines, respectively.

Given this historical context, some analysts argue that the current rate cut could signal underlying economic weaknesses rather than serve as a straightforward catalyst for a bull market.

While the rate cut might initially boost Bitcoin and other notable cryptocurrencies, the potential for a broader economic downturn could temper long-term optimism.

10x Research has cautioned that a 50 basis point cut could “signal deeper concerns to the markets,” suggesting that it reflects deeper issues rather than merely addressing economic conditions. This could reduce investor exposure to risk assets like Bitcoin.

Some analysts speculate that the potential implications could spark a 15-20% drawdown to new lows once the initial buzz wears off and worries about economic slowdown take hold.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

More Articles

DeFi News
Brazil Explores DeFi Integration in Drex CBDC Pilot
Hassan Shittu
Hassan Shittu
2024-10-04 14:11:26
Industry Talk
Flockerz Raises $100,000 in 4 Days – Vote-to-Earn (V2E) Meme Coin ICO Now Totals $400,000
Gary McFarlane
Gary McFarlane
2024-10-04 13:55:48