Bitcoin 'parabolic' rally may begin in the 4th quarter!

The price of Bitcoin started to rise at the beginning of this year after a long uphill climb last year. Then we saw during the first quarter of this year that the price of Bitcoin rose to an all-time high. Many Bitcoin prices have been bearish in recent times since breaking past highs and rising to new highs. It's pretty much a major correction centered on the bull market ahead. Although there was some good news from the start this year was fueled by a number of positive fundamentals, including the launch of a spot bitcoin exchange-traded fund in the US and the halving event. Moreover we know that Bitcoin halving has been completed this year which reduces the amount of BTC paid to miners by 50%.

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Bitcoin prices hit new all-time highs in March before halving in April this year. And this has led many analysts to predict a supercycle within the current half year. We saw the completion of the Bitcoin halving at the end of last April, and since then the price of BTC has yet to surpass its pre-halving all-time high. If we stay in the market, we can see that the price of Bitcoin is currently trading around $61,000, but Bitcoin has lost 13% in the last month and 14% in the last 30 days. But the current situation has left market analysts debating whether Bitcoin will start a rally in the fourth quarter of this year.

However, we have been getting some negative news for the past few days when the price of Bitcoin started to rise. For example, one of these is the distribution of huge amount of Bitcoins by Mt Gox to its customers and the sale of Bitcoins by the German government and the sale of Bitcoins by the United States. As a result, they had a good impact on the market and the price of Bitcoin dropped a lot. The current market cycle may soon be the longest in history after it halves. Bitcoin price seems to be indicating at the moment that a new all-time high will take longer or is not in the cards. But if we review the chart or the market of the past periods, it may seem that there is more than a 70 percent chance of a Bitcoin rally in the fourth quarter.

If we review the past Bitcoin halving cycles, we can see that the bull rally started in Q4 even in the previous Bitcoin halving years. Hopefully the whales in the market won't let Q4 be boring with flat performance. However, currently there is not much negative news in the market and currently the price of Bitcoin is in a consolidation phase. And the current level of Bitcoin price and the current situation indicates that it may start a parabolic uptrend as it enters the final quarter of this year. If we review the past shals and the times of the past bitcoin halves, we can see that the last quarter has seen a parabolic scenario for bitcoin. As such, it is expected that we will see such a parabolic rally in the last quarter of this year. And hopefully if there is no very bad news in the market then we can soon cross the resistance of Bitcoin above $62000 and move closer to $65000. And if nothing bad happens, we can see quite a bit of movement in the Bitcoin price in the last three months.