The Bitcoin Bull Run Might Be Two Months Away

Crypto analyst Quinten François lately highlighted a cycle indicator that means the Bitcoin bull run is nearly to start.

Acclaimed crypto analyst Quinten François recently brought attention to a cycle indicator that suggests the Bitcoin bull run is about to begin. The crypto analyst highlighted several fundamentals that paint a bullish picture for BTC heading into this bull run.

Bitcoin Bull Run Might Be Two Months Away

In an X (formerly Twitter) post, Quinten reminded the crypto community that the typical cycle begins 170 days after the Bitcoin halving. He added that it has been 121 days since the halving event, which means the bull run may be two months away and likely begin sometime in October.

In a subsequent X post, the crypto analyst highlighted Bitcoin’s good setup for the bull run that’s about to start. He remarked that the German government is finished selling its BTC holdings while outflows from Grayscale’s Bitcoin Trust (GBTC) have drastically diminished. Moreover, Quinten noted that global liquidity is set to blow up again, which means more liquidity will likely flow into Bitcoin soon enough.

FTX creditors are also said to be on the verge of receiving their repayments, and Quinten believes that the majority of this money will flow into Bitcoin. Meanwhile, BTC supply on exchanges is historically low, which signifies that investors are aggressively accumulating the flagship crypto. Most of these investors are believed to be mainly institutions, as the crypto analyst noted that they are stacking more than 450 BTC, which is mined each day.

Having highlighted these bullish fundamentals, Quinten asserted that the boring summer months are nearly over and that the bull run for Bitcoin and other cryptocurrencies is about to begin. As to how high BTC might reach in this bull run, Quinten shared a chart displaying that the flagship crypto might rise to as high as $250,000 at the peak of this market cycle.

This price prediction was primarily based on Bitcoin’s price action in earlier cycles from its cycle bottom to cycle prime. Quinten believes the US election might significantly influence BTC’s price as he highlighted how the fourth quarter of the year seems to be good for the flagship crypto.

What The Bull Run Will Look Like

Crypto analyst Smiley Capital recently offered insights into what the bull run might seem like when it finally begins. He stated that Bitcoin will rally so hard that it “paralyzes the entire market.” He added that there shall be periods of consolidation for Bitcoin after “face-melting rallies,” which will lead to a reset in the open interest (OI). Once that’s done, BTC will once again continue its uptrend.

Meanwhile, after BTC was finished, Smiley claimed that Ethereum would have an even stronger rally, bringing the entire market up. This will cause altcoins to have “weeks, months of inhumane moves.” However, the analyst warned that there could be short-term corrections to wipe out leverages but suggested that these coins will enjoy even greater rallies from such lows.

At the time of writing, Bitcoin is trading at around $60,600, up over 2% in the last 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com