Q3 Bitcoin Poised for Bullish Surge, As Per Cryptocurrency Expert, Presents Historical Data Confirming Uptrend
In the world of cryptocurrency, the third quarter (Q3) of post-halving years has consistently proven to be a significant period for Bitcoin (BTC) price surges. This trend, which has seen robust average gains and the establishment of new all-time highs (ATHs), is once again under the spotlight as Q3 2022 begins.
Key insights from previous post-halving years reveal that Bitcoin has demonstrated robust price rallies during Q3, with gains often exceeding 60% in this quarter alone. July and August have been particularly strong months, delivering returns commonly surpassing 50% during this period.
For instance, in 2013, Bitcoin surged from under $100 in July to over $680 by November. Fast forward to 2017, the price rose from under $2,800 in early Q3 to above $16,000 by year-end. More recently, in 2021, Bitcoin jumped from under $39,000 in July to over $69,000 by November.
Analysts project that Bitcoin could have reached cycle tops between approximately $140,000 and $160,000 by the end of Q3 in the latest post-halving year, reflecting potential gains of around 30% to 49% from mid-cycle prices around $107,000.
The recurring pattern of relatively subdued first half of the year (Q1 and Q2) followed by a sharp rally in Q3 is attributed to strong institutional interest and favourable macroeconomic conditions typically emerging after halving events.
Lark Davis, a well-known cryptocurrency analyst, predicts a 15.48% increase in July and a 36.51% increase in August for Bitcoin, leading to a new ATH target at $140,000. Another analyst suggests that Bitcoin is positioning itself for a bullish Daily Close above a black diagonal resistance, which, if successful, could be followed by a successful retest confirming the breakout from the pattern.
These predictions are in line with other analysts' expectations of a price increase from $114,000 to $140,000 in the near future. The combined predicted increase for July and August is 57% for Bitcoin.
Historically, Q3 has acted as a launchpad for significant Bitcoin rallies post-halving, with new ATHs often forming in this quarter. As such, the current prediction of a new ATH target at $140,000 for Bitcoin aligns with this trend and suggests that the cryptocurrency could be on the brink of another price surge.
| Year | Q3 Start Price | Q3 End (or Year-End) Price | Approx. Q3 Gain (%) | ATH Range (Q3) | |-------|----------------|----------------------------|---------------------|------------------------| | 2013 | <$100 | >$680 | >580% (Jul-Nov) | New ATH in Q3 | | 2017 | <$2,800 | >$16,000 | >470% (Q3 to year-end) | New ATH in Q3-Q4 | | 2021 | <$39,000 | >$69,000 | ~77% (Jul-Nov) | New ATH in Q3 | | Expected 2022 (Comparable) | ~$107,000 | $140,000-$160,000 | ~30% to 49% | Projected ATH Range |
As Bitcoin recovers from a dip in prices after setting its initial 6-digit ATH, investors and analysts alike are eagerly watching the market to see if the history of Bitcoin going bullish in every post-halving Q3 will repeat itself.
[1] "Bitcoin's historic gains in Q3: A comprehensive analysis" - [link] [2] "Bitcoin's post-halving Q3 performance: A detailed look" - [link] [3] "The bullish trend of Bitcoin in post-halving Q3" - [link]
- In the context of Q3 2022, the trend of significant Bitcoin price surges post-halving years is once again being scrutinized, given past gains of up to 580% and the establishment of new all-time highs during this quarter.
- As Bitcoin recovers from a dip, the focus on investing in this decentralized finance technology is intensifying, considering the historical robust performance of Bitcoin in the third quarter, attributable to strong institutional interest and favorable macroeconomic conditions.
