Coinbase analysts David Duong and David Han predict that crypto markets will remain volatile through Q3 2024. They shared this forecast in their weekly market report, expecting increased volatility over the next two months before a potential rally in Q4.
Earlier this year, Bitcoin hit a new all-time high above $73,000. However, Q2 faced challenges like interest rate changes and significant selling by government-controlled wallets, leading to a rocky start for Q3. Analysts note that indiscriminate bitcoin selling, notably by Germany’s Bundeskriminalamt, has created supply overhangs.
Despite this, the approval of spot ETH ETFs and recent SOL ETF applications provide positive outlooks. Analysts see potential interest rate cuts and the upcoming US election as pivotal for market recovery in Q4.
Strategically, these developments suggest a strong buy for Bitcoin, positioning it as a resilient alternative to traditional finance.
