Renowned crypto analyst @pakpakchicken on X (formerly Twitter) accurately predicted the market bottom during the Bitcoin price decline in September. After this successful prediction, the crypto analyst has once again taken to social media to advise Bitcoin investors on their next steps as the price continues its recovery.
Bitcoin’s Rising Trajectory
In early September, the crypto analyst shared a liquidation heatmap revealing significant losses among Bitcoin traders. The drop below $57,000 led to a wave of liquidations, prompting the analyst to recommend investing in Bitcoin during the market crash.
Emphasizing that buying during market downturns is profitable, the analyst also highlighted the Federal Reserve’s rate cut as a catalyst for Bitcoin’s upward movement. The recent rate cut by the Fed has indeed propelled Bitcoin and the crypto market towards growth.
With Bitcoin’s price trending upwards, the analyst suggested a shift in strategy, advising investors to refrain from immediate profit-taking and hold on for better opportunities, possibly until 2025.
“We’ve been programmed to take profit in volatile markets, but during upward trends, patience is key,” the analyst stated. “Adjust your strategy. Hold off on profit-taking. Stay resilient through market dips. I foresee a clear path ahead until mid-2025.”
Entering a Promising Quarter
Bitcoin is poised to have its most bullish September yet, hinting at a bullish trajectory in the coming months for the cryptocurrency. Data from the Coinglass website already shows a 7.28% increase in Bitcoin’s price, surpassing the record set in September 2016.
Historically, when September closes positively, the following months of October, November, and December also end in gains. This trend suggests that if September concludes on a positive note, the fourth quarter could continue the recovery trend, potentially leading to a new all-time high for Bitcoin by the end of 2024.
Featured image created with Dall.E, chart from Tradingview.com
To sum up, the crypto analyst’s accurate predictions, coupled with bullish trends in Bitcoin’s price, suggest a favorable outlook for investors. By adapting investment strategies, being patient, and following market trends, investors could potentially see substantial gains in the coming years. Stay tuned for further updates and insights on Capitlux.com.
