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- The crypto market is preparing for an explosive bull run, with October predicted to ignite a massive super-cycle.
- Analysts forecast the next crypto uptrend, driven by macroeconomic factors and institutional movements, starting in October.
In a thread, notable DeFi researcher 0xNobler has made a daring forecast that an even more explosive bull cycle will begin in October.
0xNobler cited previous triumphs, highlighting the spectacular gains recorded during the last bull run, when tokens such as Axie Infinity (AXS) increased by 950x and The Sandbox (SAND) increased by 1050x. According to 0xNobler, the future “super-cycle” will outperform past ones.
“The crypto market always moves in cycles, and recognizing the patterns is essential for making a profit,” 0xNobler says. These cycles are often divided into four phases: accumulation, growth (uptrend), bubble (distribution), and crash (downtrend).
Market sentiment, global adoption, regulatory changes, and macroeconomic factors all have an impact on the opportunities and risks that each of these phases brings. As the following few weeks pass, the market is expected to enter the uptrend phase, which is characterized by large price gains.
Macroeconomic Factors Paving the Way for the Next Crypto Boom
Several macroeconomic and market-specific elements will be key drivers of the forthcoming cycle. 0xNobler identified the approaching US election, projected rate reduction, corporate stock buybacks, the distribution of FTX dividends, and the expanding use of cryptocurrency ETFs as critical factors driving the market forward.
“Historically, October and November have always been favorable months for the crypto market, and this year looks no different,” 0xNobler added, implying that many institutional investors may try to cut prices before the big boom begins.
At the same time, a prior CNF report revealed a similar opinion among market analysts. As Bitcoin’s supremacy fades, there is renewed hope about altcoins’ possibilities. According to a popular analyst, several altcoins are predicted to rebound in the fourth quarter of 2024, potentially reaching new highs by March 2024.
The shift in dominance between Bitcoin and altcoins frequently marks the start of what is known as an “altseason,” in which altcoins outperform Bitcoin and attract significant attention and investment.
Analysts are increasingly optimistic that the last months of 2024 will repeat previous bull runs, albeit with even more violent market fluctuations. Large firms and institutional investors are reportedly seeking to force prices lower in the short term, capitalizing on weaker hands ahead of the next phase of fast development. He stated:
“Today, large corporations are trying to shake you out and buy at lower prices one last time before the real bull run begins.”
