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Bitcoin's Green September Sparks Bullish Buzz!
BTC's current price action is causing analysts to draw comparisons to the 2020 bull run.
Danielle du Toit
September 23, 2024
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Bitcoin September Surge Mirrors 2020 Bull Run: Analysts
Kamala Harris Finally Breaks Silence on Crypto: Report
Analyst Predicts Bitcoin Could Surge 400% Against Gold in 2025
OpenSea Users Claim NFTs are Securities in Proposed Class Suit
BTC’s short-term gains look so promising that analysts are drawing comparisons to the 2020 bull run.
Lark Davis, a well known YouTuber and crypto analyst, recently tweeted that a green September has historically led to a bullish Q4 for Bitcoin.
Rekt Capital also pointed out that it's been 161 days since the Bitcoin halving. In 2020, BTC experienced a massive surge 161 days post-halving, and reached an ATH by November 2021.
Adding fuel to BTC’s fire, the Relative Strength Index (RSI) for Bitcoin is close to 64.25, which indicates that bulls are generally in control of the price action.
Kamala Harris made her first public statement about crypto, and vowed to encourage investment in artificial intelligence and digital assets.
This was Harris’ first public comment on crypto since becoming the Democratic Party’s presidential frontrunner.
Donald Trump, her Republican rival, has also been actively engaging with the crypto industry, and has already made it a key point in the presidential race.
Alexander Grieve, VP of government affairs at venture firm Paradigm, praised Harris' comments, and stated that the next administration should be pro-crypto regardless of who wins the election in November.
According to Peter Brandt, the BTC/GLD ratio could climb by over 400% in 2025.
The BTC/GLD ratio suggests that one Bitcoin could be worth 123 ounces of gold by 2025, up from its current value of 24 ounces.
Institutional adoption and the launch of Bitcoin ETFs have contributed quite a bit to Bitcoin's rapid growth. The ETF market is projected to reach $220 billion by 2027.
Experts like Anthony Scaramucci and Anthony Pompliano also believe Bitcoin's market cap could surpass gold in the next decade.
Two OpenSea users have proposed a class-action suit in the US against NFT marketplace OpenSea, claiming it sells unregistered securities contracts.
Anthony Shnayderman and Itai Bronshtein filed a lawsuit in Florida on Sept. 19, claiming that NFTs they bought on OpenSea are worthless due to their "illegal nature."
They argue that the NFTs qualify as investment contracts under US securities laws based on the Howey test.
The lawsuit also alleges that OpenSea unjustly enriched itself by charging fees and accepting funds from the sale of unregistered securities.
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