Coinbase analysts remain optimistic for the fourth quarter and argue that a mixture of elastic liquidity, a favorable macro background and supportive regulation signals could keep Crypto Market Rally alive.
Bitcoin They claim that they are continuing to take advantage of macro -wind and could surpass the market’s expectations, analysts David Duong and Colin Basco said in a Wednesday report.
“To prevent a shock to energy prices, we believe that the immediate risk of disrupting the current US monetary policy path is actually quite low,” the analysts wrote. Demand of the chain from digital asset chains (Dats) Also expected to give a floor at prices.
A lingering concern for investors is seasonal determination, the report said, noticing six even September -Fall for BTC against the dollar between 2017 and 2022.
But this pattern could not play out in both 2023 and 2024, the analysts noted. Not only that, but the small sample size and wide spread of results limit the utility of seasonal indicators.
A more meaningful factor, Coinbase said, where we are in the DAT cycle. Publicly revealed dats hold over 1 million btc (110 billion dollars)4.9 million ETH (21.3 billion dollars) and 8.9 million sun (1.8 billion dollars) Per. 10th September.
Late participants are now chasing Altcoins further down the risk basket, which Coinbase believes puts markets in a “player-versus player” phase, a dynamic that favors large capital caps, but can soon lead to consolidation among smaller DAT players.
On the way into the last quarter, Exchange’s analysts maintained a constructive vision and expected strong liquidity, a favorable macroeconomic background and regulatory momentum to keep crypto markets well supported.
Read more: Crypto Institutional Adoption seems to be in the early stages: JPMorgan
