A bunch of smart folks at Matrixport, a company that deals with digital money, think Bitcoin is about to explode in the last quarter of 2024. They’ve got four main reasons why:
1. Bitcoin’s Getting Ready to Jump
Bitcoin’s been trading in a pretty tight range lately. This is a classic sign that it’s about to make a big move, either up or down. Matrixport thinks it’s going up.
2. The Fed Might Be Our Friend
The Federal Reserve, which controls interest rates in the US, might be about to cut rates. This could mean more money flowing into the market, and that’s good news for Bitcoin.
3. The Election Could Be a Game Changer
The US Presidential election is coming up, and if Donald Trump wins, he might be good for Bitcoin. He’s been pretty friendly to crypto in the past.
4. Summer Slump, Fall Surge
Bitcoin usually takes a dip in the summer, but this year could be different. The economic and political situation is pretty unusual, and Matrixport thinks it could lead to a big rally in the fall.
The Bottom Line
Matrixport is betting on a big Bitcoin boom in Q4. They think the combination of a tight trading range, potential rate cuts, the election, and the usual seasonal patterns could lead to a huge price jump.
