Bitcoin and Cryptocurrency Update:
The crypto market is expected to see continued volatility in Q3, 2024, according to analysts at Coinbase. Despite a bullish trend earlier in the year, Q2 presented challenges such as interest rate decisions and government-controlled wallets selling off Bitcoin. The recent selling from sources like the German government and Mt. Gox adds to the market uncertainty.
Analysts Forecast for Q4:
Looking ahead to Q4, analysts are optimistic about the potential impact of the SEC’s approval of spot ETH ETFs and SOL ETF applications. While there is uncertainty surrounding the effects of ETH ETF flows, analysts believe the market outlook remains positive. Factors such as potential interest rate cuts and the US election in November could shape the market environment. Overall, fiscal expansion could position Bitcoin favorably as an alternative to traditional finance.
