Bitcoin (BTC) may be facing a rocky September, but Real Vision analyst Jamie Coutts predicts a robust finish to 2024. In a recent video update, Coutts highlighted the growing liquidity in the market as a key indicator for a potential Bitcoin rally in the final months of the year.
“Zooming out, I think the conditions are there for a pretty strong Q4,” Coutts stated, emphasizing Bitcoin’s historical tendency to perform well in the fourth quarter. Despite the current dip, with Bitcoin trading at $56,087—a decline of over 3% in the past 24 hours—Coutts is optimistic about a turnaround. “September is always pretty challenging for Bitcoin. But historically, Q4 tends to bring positive momentum,” he added.
Coutts’ optimism stems from increasing market liquidity, which he believes could catalyze significant price movements for Bitcoin. He cautioned, however, that any unforeseen geopolitical events could impact the market. Barring major disruptions, Coutts expects Bitcoin to navigate through its current heavy trading phase and potentially finish the year on a high note.
The analyst also pointed out that altcoins could see a resurgence before the current cycle ends. “I think at this point in the cycle, there’s still decent returns to be made over the next six to 12 months, maybe a bit longer,” Coutts noted. He highlighted a recent 40% to 50% pullback in many altcoins, suggesting that a recovery in liquidity could lead to substantial gains in the altcoin sector.
However, Coutts remains cautious about the current sluggish performance of altcoins compared to Bitcoin. “There’s only a small percentage of coins outperforming Bitcoin right now. For a significant shift in momentum, we need to see a clear reversal,” he said.
In summary, Jamie Coutts’ analysis paints a hopeful picture for Bitcoin and altcoins as we head into the final quarter of 2024. With increasing liquidity and historical patterns on Bitcoin’s side, investors may want to keep a close eye on the crypto markets in the coming months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
