Several experts like Jamie Coutts are predicting strong bullish trends for Bitcoin, especially in the final quarter of the year.
"Dave the Wave", known for accurately predicting Bitcoin in 2021, believes the cryptocurrency could rebound soon.
Michaël van de Poppe, however, sees a small dip to $54,000 before a rebound.
Just as Bitcoin makes its way through the rest of the year with one quarter to go, the crypto community is abuzz with major predictions from top analysts.
Many of them believe that the remaining part of the year holds a lot of potential for the flagship cryptocurrency, while others think a slight short-term dip will come before.
Here’s a roundup of key Bitcoin predictions from experts in crypto.
According to Real Vision analyst Jamie Coutts in a recent video, we might see some solid bullish action on Bitcoin in the final months of the year.
The analyst notes that the market liquidity is starting to improve, which might be one of the major indicators of a Bitcoin rally to the upside.
Moreover, data from Coinglass also shows that in the last ten years, the fourth quarters have been by far the most bullish since 2013.
Bitcoin’s quarterly returns
Data from the trading resource shows that Bitcoin's average quarterly return is an impressive 88.84% in yearly Q4s, which is more than enough to bring Bitcoin past the $100,000 mark.
Coutts believes that this incoming quarter will be no different.
In the video update, the analyst pointed out that September is often a weak month, but we should see things start to improve soon.
“Zooming out, I think the conditions are there for a pretty strong Q4,” he said. “There’s still decent returns to be made over the next six to 12 months,”
Analyst Dave the Wave, who is famous for accurately predicting the May 2021 crypto collapse, now believes that a massive breakout is incoming for Bitcoin.
The analyst shared a chart with his 146,400 followers on X, indicating that the cryptocurrency is trading on top of an ascending trendline and should explode upwards soon.
Bitcoin mirroring its price action from 2020
Source: Twitter
Bitcoin mirroring its price action from 2020
In an attached blog post, the analyst pointed out that the cryptocurrency may be forming a pattern that is just like the ones from previous cycles (especially the one before the last bull run in 2020).
He believes Bitcoin is likely to test a long-term diagonal support level, which could act as a launch pad for an explosive price surge.
The trader also referenced the logarithmic growth channel (LGC) curve, stating that Bitcoin is still in an uptrend despite the current situation.
“BTC bull markets climb a wall of worry… unless you’ve got the LGC model to go by,” he said.
While the other two analysts have bullish outlooks for Bitcoin, Michaël van de Poppe believes that things might not be so straightforward.
Van de Poppe warned in a recent tweet to his 700k followers that Bitcoin might crash slightly before starting a comeback.
In particular, he believes that the cryptocurrency might drop to $54,000 before reversing and heading back up.
“The lower timeframe picture on Bitcoin is highly boring,” he stated, referring to the lack of volatility in the market.
With this in mind, he believes that after failing to hold above $58,200, we might see a dip towards the aforementioned support.
However, once Bitcoin hits this support, we should see a comeback pretty quickly, assuming no unforeseen events occur in the market.
On the flip side, BitMex co-founder Arthur Hayes expects Bitcoin to go as low as $50,000, which means that investors can expect a dip between this $54,000 and $50,000 range before the general entry signal.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.