Аналитики: ФРС и историческая сезонность могут стать катализаторами роста биткоина Translated: Analysts: The Fed and Historical Seasonality May Catalyze Bitcoins Growth

The leading cryptocurrency is experiencing resistance at $116,000, which will require a fresh momentum to overcome. Analysts at Bitfinex have identified two catalysts that could bolster Bitcoin’s price growth.

According to them, Bitcoin’s current consolidation reflects a waning momentum following the record high of $124,100 reached in August. The value of digital gold has fallen below the entry point for recent buyers who purchased the asset within the $108,000-$116,000 range, creating pressure on the market.

At the time of writing, the first cryptocurrency has risen to $117,000.

This rebound is occurring ahead of the upcoming Federal Reserve meeting on interest rates. Market participants are unanimously expecting a shift in monetary policy that could support Bitcoin’s rally.

Bitfinex experts also pointed out that the fourth quarter is historically strong for the cryptocurrency market. Since 2013, Bitcoin has averaged a return of 85.42% during this period.

Co-founder of Fundstrat and chairman of BitMine, Tom Lee, has predicted a «spectacular rally» for both Bitcoin and Ethereum in the upcoming quarter. He believes that the first interest rate cut from the Fed this year will be a key factor.

Crypto analyst Ted Pillows outlined two potential scenarios for the future performance of the leading cryptocurrency. In the first scenario, its price could dip to $104,000, while in the second, it could drop to $92,000. However, in both cases, following the correction, the asset is expected to move towards new historical highs.

The Fear and Greed Index indicates neutral market sentiment, standing at 53 points at the time of writing.

Additionally, Michael van de Poppe, founder of MN Capital, explained the significance of the $117,500 level for Bitcoin’s rally.