Bitcoin Halving Cycle Signals Potential 2024 Rally, Canaccord Analysts Predict
Portfolio Pulse from Murtuza Merchant
Canaccord analysts predict a potential Bitcoin rally by late 2024 or early 2025, driven by historical halving cycles and favorable market conditions. Ethereum's short-term performance lags behind Bitcoin, but the launch of spot ETH ETFs is seen as a catalyst for long-term growth.
October 01, 2024 | 5:07 pm
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POSITIVE IMPACT
Bitcoin is expected to rally by late 2024 or early 2025, driven by historical halving cycles and favorable market conditions. The price has surpassed $60,000, and network security is improving.
Bitcoin's historical pattern of rallying 6-12 months post-halving suggests a potential price increase. Current market conditions and improved network security support this outlook.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Ethereum's short-term performance lags behind Bitcoin, but the launch of spot ETH ETFs is a long-term catalyst for growth, potentially enhancing institutional adoption and investor interest.
Despite short-term underperformance, the launch of spot ETH ETFs is expected to boost Ethereum's institutional adoption and differentiate it from other Layer-1 networks.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80