Article: At $10,600, Bitcoin price is on track for its second-best quarter ever

[Jeremy Franklin]

I just found an intersting article on Cointelegraph.com. With the current Bitcoin prices we are "on track for the second-best quarter ever." What do you guys think? When will we see the next best quarter ever? Will it be Q4 this year? I am confident that we will see it in 2021 latest.

Bitcoin quarterly closing prices:

At $10,600, Bitcoin price is on track for its second-best quarter ever

Data shows Bitcoin should seal both its best Q3 on record and its second-highest lifetime quarterly close on Sep. 30.

Bitcoin (BTC) is on track for its best third quarter ever, data shows as Q3 2020 has just one day left to go.

According to price records from on-chain analytics resource Skew, this year should produce Bitcoin’s strongest Q3 in its history.

BTC price challenges Q2 2019 close

BTC/USD traded at around $10,680 at press time on Sep. 30. That number comfortably beats any other Q3 close on record, the next highest being last year’s $8,310.

What’s more, Bitcoin may seal the second-best quarterly close of its lifetime — but that depends on whether it can stay above Q2 2019’s $10,590.

“One more day to go and still looking like second-best quarterly close for bitcoin but it's a close call with Q2 2020,” Skew commented.

Bitcoin has stabilized in a $1,000 trading corridor since losing momentum after hitting $12,500 in August. The opinion is mixed for the short term, and concerns remain that BTC/USD may still drop to fill the last remaining CME futures “gap” at $9,600.

“There’s a rangebound structure with the upper resistance zone at $10,800,” Cointelegraph Markets analyst Michaël van de Poppe summarized in an update on Tuesday.

If BTC/USD fails to crack that resistance, he said, it was “very likely” that support levels lower down would be tested, notably $10,600, with potential for $10,400 and $10,200 to come into play.

Long term bulls in charge

Zooming out, however, the picture more conspicuously favors bulls. As Cointelegraph reported, long-term behavioral patterns remain true to form for Bitcoin, with this week proving no different.

Difficulty ribbon compression, a metric designed to quantify suitable BTC/USD entry points, has left its lower green “buy” zone for the first time since March.

Network fundamentals also speak to overall strength, with difficulty itself at all-time highs and set for another upwards readjustment of around 3% in three days’ time.

Hash rate, a measure of the estimated computing power being directed to mining, is also trending back towards its highest-ever levels.

Among traders, however, discussion remains of potential near-term lows, including a dip below the CME gap toward $9,000.

Source: https://cointelegraph.com/news/at-10-600-bitcoin-price-is-on-track-for-its-second-best-quarter-ever

[BrewMaster]

i can't tell you when better quarters are going to be seen or when certain price levels are going to be broken. but i am very confident that from now on things will increasingly become more bullish and price is going to start showing more and more rises over the long haul while entering the similar trend as beginning of 2017 creeping closer to the ATH aiming to break it.

[okala]

Another reason for us to keep holding. I see this as bullish sign. I believe that the next qter is going to massive gain. It is truth that bitcoin is on it best this 2020 and it might moon this year again.

[sunsilk]

The rejection from $12,000 is a good sign IMO. The only thing that I've noticed with the pattern is the 3 quarters closing for 2017 and 2020 are the same. But for the Q4 of 2020, we'll see if the pattern goes the same.

Q1 +
Q2 +
Q3 +
Q4?

[Baofeng]

Another reason for us to keep holding. I see this as bullish sign. I believe that the next qter is going to massive gain. It is truth that bitcoin is on it best this 2020 and it might moon this year again.

This is already a bullish sign, bitcoin above $10k at this point, but don't get excited though, still a lot of room for us to make huge gains in the next coming months, specially q1 and q2 of next year. One thing that might pull us down though this quarter is the pandemic, however, it seems crypto has settled down a bit with this issue. Also interesting to see how stock market will move us all, as it has some correlation to crypto direct or indirectly.

[Distinctin]

Another reason for us to keep holding. I see this as bullish sign. I believe that the next qter is going to massive gain. It is truth that bitcoin is on it best this 2020 and it might moon this year again.

This is already a bullish sign, bitcoin above $10k at this point, but don't get excited though, still a lot of room for us to make huge gains in the next coming months, specially q1 and q2 of next year. One thing that might pull us down though this quarter is the pandemic, however, it seems crypto has settled down a bit with this issue. Also interesting to see how stock market will move us all, as it has some correlation to crypto direct or indirectly.

I think also, but many were not satisfied with it and asking for more which eventually not a thing that we can assure of. I expecting more market inflations when the stock market started to recover, it can be early next year or in the 2nd quarter. This year is not really that bad to see, the price manages to holds over $10k despite the crisis we face. This implies that Bitcoin can be grateful in the future and at any level of economic status.

[ultrloa]

Another reason for us to keep holding. I see this as bullish sign. I believe that the next qter is going to massive gain. It is truth that bitcoin is on it best this 2020 and it might moon this year again.

This is already a bullish sign, bitcoin above $10k at this point, but don't get excited though, still a lot of room for us to make huge gains in the next coming months, specially q1 and q2 of next year. One thing that might pull us down though this quarter is the pandemic, however, it seems crypto has settled down a bit with this issue. Also interesting to see how stock market will move us all, as it has some correlation to crypto direct or indirectly.

I think also, but many were not satisfied with it and asking for more which eventually not a thing that we can assure of. I expecting more market inflations when the stock market started to recover, it can be early next year or in the 2nd quarter. This year is not really that bad to see, the price manages to holds over $10k despite the crisis we face. This implies that Bitcoin can be grateful in the future and at any level of economic status.

It's human nature to ask for more since many want to earn but actually in reality we get those figures coming frequently since the market is always unpredictable although we are quite stable at the current price still I can call it a good figures to reach up since at this moment we are still facing a crisis. But I do agree with bitcoins will have a great future since it always show a strong growth every year of it's existence.

[AmoreJaz]

Another reason for us to keep holding. I see this as bullish sign. I believe that the next qter is going to massive gain. It is truth that bitcoin is on it best this 2020 and it might moon this year again.

This is already a bullish sign, bitcoin above $10k at this point, but don't get excited though, still a lot of room for us to make huge gains in the next coming months, specially q1 and q2 of next year. One thing that might pull us down though this quarter is the pandemic, however, it seems crypto has settled down a bit with this issue. Also interesting to see how stock market will move us all, as it has some correlation to crypto direct or indirectly.

I think also, but many were not satisfied with it and asking for more which eventually not a thing that we can assure of. I expecting more market inflations when the stock market started to recover, it can be early next year or in the 2nd quarter. This year is not really that bad to see, the price manages to holds over $10k despite the crisis we face. This implies that Bitcoin can be grateful in the future and at any level of economic status.

It's human nature to ask for more since many want to earn but actually in reality we get those figures coming frequently since the market is always unpredictable although we are quite stable at the current price still I can call it a good figures to reach up since at this moment we are still facing a crisis. But I do agree with bitcoins will have a great future since it always show a strong growth every year of it's existence.

btc is really performing well regardless of what the global population is experiencing right now. the whole world stopped for a moment, but btc survives. and with this situation, it has become its advantage as there are many newcomers in crypto. whether owed to being stuck at home and learning more about crypto or people looking for alternative payment methods as well as potential investment options

we will always ask for more and not be contented for what is  presented to us. i guess we are pretty much greedy animals! lol

[Oceat]

I'm not really bullish this year when it comes to the price since there's a lot of stuff happening already. Breaking $15k is quite hard though but $10k+ is a bullish enough if you could think about it but that's it. I'm expecting a massive gain by next year for investors a quiet good trade to us who hodl a lot from the start since the price is quite low.

[GreatArkansas]

For the year 2020, quarter closing prices are increasing, which is a good sign for me, it's a bullish out there. This is one of the examples that we can say we are currently on the uptrend. With these kinds of prices, I am much glad and comfortable with it.
Because there is no lot of abrupt dumps or pumps, like if you will put in on the technical part, on the chart, a wick on candlesticks. This is healthy.

[Coin_trader]

I'm not really bullish this year when it comes to the price since there's a lot of stuff happening already. Breaking $15k is quite hard though but $10k+ is a bullish enough if you could think about it but that's it. I'm expecting a massive gain by next year for investors a quiet good trade to us who hodl a lot from the start since the price is quite low.

This is year is very bullish for Bitcoin, From another low @3K level then pump to 12K is a very bullish. If that's not bullish then I don't know what's the meaning of bullish for you. BTC price is currently on uptrend based on the weekly chart of BTC, There's still a lot of potential growth within this year for BTC because it close the gap on 9.8k level when it pumps to 12k level. That means that we already balance the overbought and soon traders will start entering position again for another bull run.

[hugeblack]

All these press analyzes come from the rule that the price rose madly at the end of the year 2016, which is the same year in which there was a reduction in the quantity supplied, and thus the price will rise madly to reach levels of 20,000 dollars before the end of the current world.

I do not see a logical basis for the repetition of what happened to happen again. Therefore, there is no logical reason for us to witness more rises at the end of the year, especially since COVID-19 crisis is still stagnant.

[maydna]

We still have 3 months later before the end of this year so that everything can happen. And if the history repeats, perhaps, we will see bitcoin price will start a big rally between October - December 2020. But if bitcoin price seems hard to rally to break more than $15k, then we might not see bitcoin price will break that price this year.

We are still at the pandemic, which we don't know when it's over, and perhaps, that also impacts the bitcoin price. But every news that we read is just speculation or prediction from people while we don't know what bitcoin will go to do for the rest of the month this year. We should prepare if the price will start the rally and make the next bull run, so we are not late to join at that moment.

[cryptomaniac_xxx]

I'm not really bullish this year when it comes to the price since there's a lot of stuff happening already. Breaking $15k is quite hard though but $10k+ is a bullish enough if you could think about it but that's it. I'm expecting a massive gain by next year for investors a quiet good trade to us who hodl a lot from the start since the price is quite low.

Many had happened already, from block halving to the pandemic, but the price seems not affected but instead we have a good showing currently at $10k that that is bullish enough for me. I agree that there are big expectations next year, as everyone is still holding on the 4 year market cycle. Bullish 2020 and also might be a good period for accumulation still.

[slaman29]

Final quarter is always a risky period for economies, and the past few years have not been good in general, this year I think is going to be the worst on record for the last decade thanks to coronavirus, so I think that will have a big say in how economies react. Not necessary that this will be good for Bitcoin I think, because it has yet to truly decouple from traditional markets. As usual, we can only see and wait:)

[el kaka22]

The fact that people do not remember 2017 peak being incredibly short and not a whole quarter scares me. Reality is even though bitcoin saw great peaks at times it wasn't like that for a long time, it wasn't like that when it was 20k, it wasn't like that when it was 14k in 2019 and it is for the first time staying above 10k this long, in fact it has never stood above 10k this long before, this is a record.

You have to understand that bitcoin to moon was a thing said many times but people kept thinking 15-20k range was something bitcoin done before so they expected it again whereas it was never there for too long, only few days, and this is why being above 10k for this long makes a big difference, it means we are finally setting a base higher than 10k for the first time ever.

[Oceat]

I'm not really bullish this year when it comes to the price since there's a lot of stuff happening already. Breaking $15k is quite hard though but $10k+ is a bullish enough if you could think about it but that's it. I'm expecting a massive gain by next year for investors a quiet good trade to us who hodl a lot from the start since the price is quite low.

This is year is very bullish for Bitcoin, From another low @3K level then pump to 12K is a very bullish. If that's not bullish then I don't know what's the meaning of bullish for you. BTC price is currently on uptrend based on the weekly chart of BTC, There's still a lot of potential growth within this year for BTC because it close the gap on 9.8k level when it pumps to 12k level. That means that we already balance the overbought and soon traders will start entering position again for another bull run.

Welp, that would be bullish if we base on the price from Q1 up to now since the lowest price on Q1 was $5.5k+ but that doesn't mean we will witness a bullish trend this year like Bitcoin would hit $15k or something. $10k might be the strongest support this month while the market would run between $10k to $12k.

Many had happened already, from block halving to the pandemic, but the price seems not affected but instead we have a good showing currently at $10k that that is bullish enough for me. I agree that there are big expectations next year, as everyone is still holding on the 4 year market cycle. Bullish 2020 and also might be a good period for accumulation still.

Accumulation process has began already from the start when Bitcoin touch the $6k level and I hope people didn't actually dump it already when they saw a $13k this year or they might miss the bull run next year.

[DeathAngel]

All I know is that 2020 is not the year to start selling your stash. The mega bull run will come next year. Historically the peak of a bull run is at least 12 months AFTER the block reward halving.

[arwin100]

Accumulation process has began already from the start when Bitcoin touch the $6k level and I hope people didn't actually dump it already when they saw a $13k this year or they might miss the bull run next year.

For seeing those dumps happening I'm sure many people got scare and dump when price going backwards after reaching the $13,000 price, but if they don't do a good counter action today then might they will really miss the projected bull run that will happen next year. But honestly I have a little doubts that we will encounter the same bull run the same on 2017 since the hype by this year is not much compare before and I think we can see a minimal changes.

[Baofeng]

Another reason for us to keep holding. I see this as bullish sign. I believe that the next qter is going to massive gain. It is truth that bitcoin is on it best this 2020 and it might moon this year again.

This is already a bullish sign, bitcoin above $10k at this point, but don't get excited though, still a lot of room for us to make huge gains in the next coming months, specially q1 and q2 of next year. One thing that might pull us down though this quarter is the pandemic, however, it seems crypto has settled down a bit with this issue. Also interesting to see how stock market will move us all, as it has some correlation to crypto direct or indirectly.

I think also, but many were not satisfied with it and asking for more which eventually not a thing that we can assure of. I expecting more market inflations when the stock market started to recover, it can be early next year or in the 2nd quarter. This year is not really that bad to see, the price manages to holds over $10k despite the crisis we face. This implies that Bitcoin can be grateful in the future and at any level of economic status.

That's why it's really better to set our expectations vs reality. Because we all wanted to see a price that will satisfy us, however, that's not how the market is, it is a up and down, a lot of bumps along the way. So $10k is really good for this year, not bad for us because who wouldn't thought that we will see five digits again after the crash last March. So again, bitcoin shows its resiliency along the way, but it will not be that easy. So set our expectations, but not too high though, so that we won't get disappointed in the end.