[2024-10-02] Bitcoin Enters Positive Seasonal Trend, Demand Key ...

[chmod755]

Bitcoin Enters Positive Seasonal Trend, Demand Key to Further Growth: Cryptoquant

Bitcoin is entering a period of traditionally positive performance, according to the latest analysis from Cryptoquant and its researchers. However, for bitcoin to reach new highs, increasing demand will be crucial as current levels remain stagnant

‘Demand Has a Lot of Room to Grow’

Cryptoquant‘s latest report highlights bitcoin’s strong historical performance during the fourth quarter, particularly in years following a halving. In 2012, 2016, and 2020, bitcoin saw gains of 9%, 59%, and 171%, respectively, in Q4. At the end of September 2024, bitcoin’s price trends closely mirrored those of previous halving years, leading to optimism for continued growth.

“Bitcoin’s apparent demand growth has remained muted basically since July, oscillating between -23K and +69K bitcoin on a monthly basis,” the report published on cryptoquant.com states.

The analysis adds:

For comparison, bitcoin’s apparent demand grew by as much as 496K bitcoin in April, when the price was hovering at $70K. It seems that demand has a lot of room to grow in Q4.

Source: https://news.bitcoin.com/bitcoin-enters-positive-seasonal-trend-demand-key-to-further-growth-cryptoquant/

[Oshosondy]

I saw this everywhere and on social media. People posted about it some days before October but not a research from anywhere but an image that shows how bitcoin was bullish in the fourth quarter of the halving years. But this October started with bear market instead which makes some investors to lose interest. I still believe bitcoin may still increase in price because the the forth quarter has just started.