History favors Bitcoin’s price prospects for Q4, but CryptoQuant analysts caution that a consistent uptick in demand will be a critical component.
CryptoQuant analysts say Bitcoin is entering a period of positive seasonality, but an increase in demand is required for the price of BTC to reach $100,000 in Q4.
Generally, Bitcoin has performed well in October when in a bull cycle, particularly in a halving year like 2024 and that period of positive seasonality is typically maintained throughout the fourth quarter of the year.
In its weekly report published on Oct. 2, the market intelligence firm explained that in previous Bitcoin halving years, 2012, 2016 and 2020, Bitcoin (BTC) price has increased by 9%, 59% and 171%, respectively.
