When Will the Rally Begin in Bitcoin? The Giant Investment Company Said "Be Ready at Any Time" and Announced the Expected Date!
Bitcoin (BTC) and cryptocurrencies have seen both ATHs and sharp corrections throughout the year, but cryptocurrencies have outperformed stocks this year and continue to do so.
Evaluating the situation between cryptocurrencies and stocks, Canaccord analysts said that Bitcoin led this good performance.
Canaccord noted that Bitcoin completed the third quarter with an increase of approximately 140% on an annual basis, outpacing Ethereum (ETH), which gained approximately 60% in the same period, and the S&P 500 stock index, which gained approximately 30%.
Canaccord said that if Bitcoin follows historical patterns, it will trend upward in the 6-12 months after the halving and reach new highs 2-6 months later, meaning a potential rise could begin between now and April.
At this point, Canaccord stated that Bitcoin will start a potential rise before April 2025, and that the FED’s 50 basis point reduction triggered the rise in BTC and crypto.
“Although Bitcoin’s role as a hedge against inflation has diminished, the upward movement is supported by interest rate cuts, the positive course of supply and demand dynamics following the Bitcoin halving in April, and positive tailwinds from spot ETFs. Bitcoin is responding positively to the low interest rate environment,” analysts led by Michael Graham said.
*This is not investment advice.