2024

Bull Market

Bitcoin

Following a 4% drop after Iran’s missile attack on Israel, Bitcoin fell to a two-week low of $60,300 before bouncing back to $61,800. As investors question whether the bear market has returned or if a rally is still on the horizon, experienced analysts Peter Brandt and Willy Woo have shared their latest evaluations. 
<h2 id="peter-brandt-bull-market-needs-confirmation">Peter Brandt: Bull Market Needs Confirmation</h2> 
Brandt points out that the recent rise in Bitcoin has not broken the 7-month-long trend of lower highs and lower lows. He emphasized that the upward movements seen since early 2023 have not yet been confirmed as a sustained bull run. 
To officially signal a bull trend, Brandt says Bitcoin must close above $71,000. He stated, “A major bull trend will only start if Bitcoin closes above $71,000, reaching a new ATH.” 
<img loading="lazy" decoding="async" class="alignnone size-full wp-image-20920" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/representing-the-potential-rise-or-uncertainty-in-Bitcoin-BTC-and-altcoins-during-October-The-image-should-feature-the-Bitcoin-logo.webp" alt="representing the potential rise or uncertainty in Bitcoin BTC and altcoins during October The image should feature the Bitcoin logo" width="1792" height="1024" title="Will October Bring a Rise for Bitcoin (BTC) and Altcoins? Two Different Opinions from Peter Brandt and Willy Woo! 30" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/representing-the-potential-rise-or-uncertainty-in-Bitcoin-BTC-and-altcoins-during-October-The-image-should-feature-the-Bitcoin-logo.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/representing-the-potential-rise-or-uncertainty-in-Bitcoin-BTC-and-altcoins-during-October-The-image-should-feature-the-Bitcoin-logo-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/representing-the-potential-rise-or-uncertainty-in-Bitcoin-BTC-and-altcoins-during-October-The-image-should-feature-the-Bitcoin-logo-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px"> 
<h2 id="willy-woo-uptober-may-not-happen">Willy Woo: Uptober May Not Happen</h2> 
Adding his perspective, Willy Woo commented on Brandt’s post, expressing doubt about the anticipated October rise. He said, “I don’t think Uptober will happen.” Woo explained that while Bitcoin is attempting to move upward, its mid-term structure remains bearish. He added, “The ATH will take time.” 
<blockquote class="twitter-tweet"> 
 The recent rally in Bitcoin did NOT disturb the 7-month sequence of lower highs and lower lows. <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a> Only a close above 71,000 confirmed by a new ATH will indicate that the trend from the Nov 2022 low remains in force <a href="https://t.co/lFO9A20VPD" rel="nofollow" target="_blank">pic.twitter.com/lFO9A20VPD</a> 
 — Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1841270939901911145?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">October 2, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Woo predicts that the market may see a 1-3 week pause before the next upward attempt, stating that October, November, and December could be flat months, though he remains optimistic for the long term. 
While Peter Brandt outlines a clear level for the confirmation of a bull trend, Willy Woo takes a more cautious approach, suggesting that the much-anticipated October rally might not materialize. Investors will need to keep a close watch on Bitcoin’s price movements and the overall market structure in the coming weeks.

Will October Bring a Rise for Bitcoin (BTC) and Altcoins? Two Different Opinions from Peter Brandt and Willy Woo!

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