The Bitcoin market has remained above $56,000 after last Friday's drop to around $52,600. An analyst known as VirtualBacon predicts a potential final dip before a major bull run.
VirtualBacon notes that even if Bitcoin falls to $43,000-$45,000, a bull run remains likely. This period often clears weaker holders, setting the stage for significant rallies. Historical data and key support levels, including the 100-week EMA at $45,000, support this view.
The Federal Reserve's upcoming decisions on interest rates and liquidity injections are expected to boost Bitcoin. VirtualBacon predicts positive trends in the last quarter, especially given strong historical performance in Octobers and Novembers.
Despite current fear in the market, VirtualBacon argues that anticipated Federal Reserve policies could rapidly shift market sentiment, leading to renewed Bitcoin interest and investments. Bitcoin currently trades at $56,930, reflecting a slight 0.7% gain.
