Bitcoins 10% September Surge Signals Bullish Momentum Ahead

Bitcoins pric dippd blow $64,000 on Sptmbr 30, but bullish signls prsist dspit slling prssur.
CryptoQunt CEO highlights Bitcoins bullish phs, with rising mrkt cp signling potntil upsid.
Anlysts suggst Bitcoins strong Sptmbr prformnc my ld to furthr gins in Octobr.

Bitcoin strtd th wk on downwrd trnd, slipping blow $64,000 on Sptmbr 30. TrdingViw dt shows tht th top cryptocurrncy fll from high of $65,760 rlir in th dy to low of $63,049. As of Octobr 1, th cryptocurrncy is trding t pproximtly $63,956, mrking 1.01% drop in th lst 24 hours.

Dspit this slling prssur, thr r signs tht th bull mrkt my not b ovr yt. On Sptmbr 30, CryptoQunt CEO Ki Young Ju suggstd tht BTC rmins in bullish phs, citing th growth rt diffrnc s ky indictor.

This chrt highlights th connction btwn Bitcoins mrkt cpitliztion nd rlizd cpitliztion, offring insight into mrkt sntimnt. Th mrkt cp is rising mor rpidly thn th rlizd cp, which hs oftn signld bull mrkt in th pst. In rcnt post, Ki Young Ju undrscord this by rmrking, Brs, Im sorry, but #Bitcoin is still in th middl of th bull cycl.

Source: Ki Young Ju

Th chrts growth rt comprison outlins its pst bull nd br phss, strtching bck to 2013. A shrp incrs in mrkt cp in 2013 mrkd th bginning of bull run, followd by stp corrction in 2014, signifying br mrkt phs

A similr trnd mrgd btwn 2016 nd 2018, with bull mrkt pking in 2017, followd by br phs in 2018. Ech priod of rising mrkt cp ws followd by pullbck, illustrtd by th shifts btwn grn (bull) nd rd (br) zons on Ki Young Jus chrt.

Th priod from 2019 to 2021 mrkd significnt rcovry, driving BTC to nw ll-tim highs in 2021. Following this surg, 2022 brought stp dclin s rising infltion nd brodr mrkt corrctions triggrd brish phs for Bitcoin. Th shift in its growth rt turnd ngtiv, signling prolongd downtrnd.

In rly 2023, th chrt indictd signs of potntil trnd rvrsl. Its mrkt cp bgn surpssing its rlizd cp, suggsting shift towrd bullish momntum. Anlysts obsrvd tht this rturn to th grn zon could mrk th onst of nw bull cycl. In sttmnt from My 2023, Ki Young Ju notd tht such growth pttrns typiclly lst round two yrs. If this trjctory continus, th currnt mrkt rlly could potntilly xtnd through 2025.

#Bitcoin is in the middle of the bull cycle.

Its market cap is growing faster than its realized cap, a trend that typically lasts around two years.

If this pattern continues, the bull cycle might end by April 2025. pic.twitter.com/o4k8B1Rkhv
Ki Young Ju (@ki_young_ju) May 17, 2024

Bitcoins September Performance Breaks Historical Trends

Bitcoins prformnc in Sptmbr 2024 hs notbly brokn from its historicl trnd. This month is oftn linkd to pric dclins, but Bitcoin sw n imprssiv ris of ovr 10% this Sptmbr, dfying prior xpcttions.

Ali Mrtinz, mrkt xprt, pointd out tht positiv Sptmbr closing cndlsticks hv historiclly ld to significnt pric incrss in th months tht follow. For xmpl, ftr strong Sptmbr gins in 2015 nd 2016, th cryptocurrncy surgd 33.49% in Octobr nd 14.71% in Novmbr. This yrs positiv clos suggsts th potntil for similr upwrd trnds.

Supporting this outlook, Quintn Frnçois, co-foundr of WRt, mphsizd in post on Sptmbr 30th tht 80% of prvious Octobrs hv shown positiv rsults for Bitcoin. H lso highlightd tht in vry lction yr, Octobr, Novmbr, nd Dcmbr hv closd in th grn. Additionlly, Frnçois notd tht whnvr it hd strong Sptmbr, th finl qurtr of th yr lwys followd with positiv rturns.

Text source: TronWeekly

Bitcoin News