Bitcoin Poised For Significant Rally In October And November, Says Bitwise CIO Matt Hougan
Portfolio Pulse from Murtuza Merchant
Matt Hougan, CIO at Bitwise Investments, predicts a significant rally in the cryptocurrency market, particularly Bitcoin, for October and November. This follows a traditionally poor September, with factors like U.S. election uncertainty and ETF flows impacting the market. October and November have historically been strong months for Bitcoin, with October often seeing a 30% rise.
September 10, 2024 | 5:39 pm
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Matt Hougan from Bitwise Investments forecasts a potential rally for Bitcoin in October and November, following a historically poor September. Factors like U.S. election uncertainty and ETF flows have impacted the market, but historical trends suggest a strong performance in the coming months.
The prediction of a Bitcoin rally is based on historical performance data and current market conditions. October and November have been strong months for Bitcoin, and the rapid adoption of Bitcoin ETFs could further support this trend. The dissipation of uncertainties like the U.S. election and Federal Reserve rate debates may also contribute to a positive market environment.
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