BTC price It continues at lower levels into the new week and we are now coming to the end of 2024. After the Fed, cryptocurrencies began to experience fluctuations similar to those in 2022 and 2023. What do popular cryptocurrency analysts say about the current situation? When will the cryptocurrency bull run start? How does Santiment evaluate the current situation?
When is Cryptocurrency Bull?
named Anıl Evci cryptocurrency analyst In his assessment today, he drew attention to the difference between previous cycles and today. According to him, the period of rise for risk assets has not yet begun to the desired extent and BTC has diverged positively in the process. Of course, Trump has a serious impact on this.
For risk assets, the analyst drew attention to the popular Russell 2000 index. The index, which monitors the performance of 2 thousand companies with low market capitalization, reflects the appetite for riskier assets.
“This index is above its previous peak without ATH, ETHWe cannot wait for ‘s and the lowers to start the expected upward movement, but this does not mean that there will be no increase until then, the rise of the market will be a reasonable expectation without sharp upward movements to a certain extent until that period.
“After each peak test, the Russell 2000 index declines for a few weeks, after which the uptrend of risky assets begins.”
It is not known how much the US interest rates are still at high levels and the revision of the discount expectation for next year from 3 to 2 will accelerate this process. However, with 1-2 months of good inflation data, there is a strong possibility that the Fed intends to cut more interest rates next year. For example, months ago, the Fed’s expectation for 2024 was not a 100bp discount and the ceiling was set at 75bp. However, we saw the opposite.
Santiment Cryptocurrency Predictions
biggest cryptocurrency Santiment, one of the analysis platforms, shared its current opinion on the markets a few hours ago. Here, there was mostly a reference to the situation of new investors. BTC While stalling at $93,000, the following evaluation was shared on Santiment’s official account;
“Crypto The markets opened the week with a further decline, sending individual investors into panic. Especially Bitcoin
$95,971.3 and Ethereum
$3,336.4is seeing a massive FUD from new investors joining the markets in the last 2-3 months.
These new traders have never seen medium-sized corrections before and are expressing their panic about external market conditions. Historically, when individual traders start selling out of panic and emotion, whales and sharks have the opportunity to create a bounce by collecting more coins with little resistance. “This may or may not happen immediately, but conditions are shaping up in the right direction.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
