• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: SEC Sues Binance And CEO For Alleged Securities Fraud
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: SEC Sues Binance And CEO For Alleged Securities Fraud
Bitcoin

Analyst Who Called Bitcoin’s V-Shaped Reversal Thinks Q4 Will Be Big for Bulls

Nick Chong by Nick Chong
3 years ago
in Bitcoin Price
0
  • Bitcoin has undergone a strong rally over the past few weeks.
  • The market has dropped in the near term due to a strong decline in the Dow Jones and S&P 500 index.
  • One crypto-asset analyst who called the V-shaped reversal that we saw in March remains bullish.
  • He says that Bitcoin could undergo “50% pumps” heading into the end of Q4 and the start of 2021.

Bitcoin Will See a Big Q4, Analysts Say

Bitcoin has undergone a strong rally over the past few weeks that has brought it from $10,200 to highs of $13,350.

The coin currently trades for $12,900, having undergone a slight drop in the face of a strong decline in the Dow Jones and S&P 500 index.

While the weakness in the stock market is worrying for some, especially considering the severity of the move, analysts remain bullish.

One crypto-asset analyst who called the V-shaped reversal that we saw in March and into the spring and summer recently commented on the matter:

“$BTC about to light up. Finished my chart studies, will review in the morning and if all still makes sense, share my thoughts Looks like remaining of Q4 and early 2021 is going to be filled with volatility in both directions (50% pumps, 30+% dumps) – swing trade heaven.”

$BTC about to light up

Finished my chart studies, will review in the morning and if all still makes sense, share my thoughts

Looks like remaining of Q4 and early 2021 is going to be filled with volatility in both directions (50% pumps, 30+% dumps) – swing trade heaven

— //Bitcoin ?ack ? (@BTC_JackSparrow) October 25, 2020

As he explains, Bitcoin could undergo “50% pumps” heading into the end of Q4 and the start of 2021. He added that these 50% pumps will be marked by 30+% dumps as well, seemingly referencing how volatile the leading cryptocurrency was in 2017’s rally.

To elaborate on his legitimacy, this analyst wrote on March 14th, a day after the crash, that he expected a rapid recovery to $10,000 by May or June.

Bitcoin did so, proceeding to rally from the lows of $3,500 to $10,000 by the range in time he specified.

Expect Some Volatility Ahead of the Futures Close

While he does expect Bitcoin to move higher in the medium-term, he did note that investors should expect strong price action to the upside an downside as futures expiries come in:

“There is volatility for the CME October contracts to be expected, that haven’t rolled over to November or December yet, expiring end of this week. ~40K worth of BTC ($500M) still open with 5 trading days to go. Deribit also has about 40K BTC option contracts expiring on Friday.

Image

Table of BTC's CME futures data for the next year. Chart from Bitcoin Jack (@BTC_JackSparrow on Twitter).

There is also some volatility to expected in the near term due to the presidential election, along with uncertainty about the next fiscal stimulus bill.

Photo by Paweł Czerwiński on Unsplash
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
Analyst Who Called Bitcoin's V-Shaped Reversal Thinks Q4 Will Be Big for Bulls
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Crash: Derivative Traders Lose $202 Million In 24 Hours

3 months ago
Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Price Consolidates After Failing To Break Through Key Resistance Level

4 months ago
New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

4 months ago
Bitcoin Investors Remain Greedy Despite High Market Volatility – Report

Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

4 months ago
50% of Bitcoin hashrate Controlled by Two Mining Pools

Data Shows 50% Of Bitcoin Hashrate Controlled By Two Mining Pools

4 months ago
bitcoin S&p 500

Why The S&P 500 Could Help Send Bitcoin Soaring Higher

4 months ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    4 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    4 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    5 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • Rollman Mining Marks Its Ascent as the World’s First...

    11 hours ago
  • Top Crypto Whales Think DigiToads (TOADS) And Monero (XMR)...

    11 hours ago
  • XT.com Lists NORDEK ($NRK) in its Main Zone

    11 hours ago
  • Hedera (HBAR) Investors are now Turning Their Attention to...

    13 hours ago
  • How a College Dropout Turned $200 into $2 Million with...

    17 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.