- Crypto analyst Ran Neuner, using his channel Crypto Banter, predicted that an altcoin season might only be a few weeks away.
- Neuner notes that Bitcoin has enjoyed its best-ever September performance in history, posting nearly double-digit gains over the past month.
- This has BTC set up to explode in the last quarter of 2024.
- Neuner argues that the positive conditions for Bitcoin will set up the rest of the altcoin market to eventually follow suit.
- He highlights XRP, Solana, Near and Injective as some of the potential big movers.
If you thought Bitcoin was poised for disaster in September – you weren’t alone. Following the intimidating August 5th flash crash, many analysts and community members (across all financial markets) became a little concerned about a potential recession. Although the macroeconomic situation was clearer by the end of August, many still predicted September to be a volatile month for Bitcoin and friends.
Historically, September has always been a rough time of the year for Bitcoin – but 2024 has been like no other.
Not only has BTC exceeded expectations by finishing September in the green, it has recorded its best-ever September performance in history.
And according to Aussie analyst Ran Neuner, this may just be the beginning.
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One of the key reasons for Bitcoin’s September renaissance, according to Neuner, is the terrific performance of the Chinese market. In the past week alone, the major Chinese index is up nearly 20% – and the second-largest economy plays a huge role in the global macroeconomic environment, even if most residents are banned from the crypto market.
But with Hong Kong making crypto-positive moves, and the mainland Chinese Government considering Bitcoin ETFs, it might not be long before a mass influx of cash enters the market.
Additionally, the upcoming repayments to victims of FTX’s collapse may provide further liquidity to a market that’s already experiencing increased cash flow since the US decreased interest rates.
Put it all together, and Neuner believes that the final quarter of 2024 could be one of great optimism for Bitcoin – and that another all-time high might be just around the corner.
Big Altcoins Set For Break Out
Neuner believes that Bitcoin’s run will form a tailwind that could usher in the next altcoin season come the beginning of 2025 – or even sooner.
One of the key altcoins Neuner assesses is XRP, the popular international payments cryptocurrency. The token, developed by Ripple and at the centre of a high-profile court case with the SEC, has been on a downward spiral ever since its peak in 2021.
But looking at a long-term, five-year chart, the analyst can see that XRP’s price action has broken above the downward trend line for the first time in several years. Neuner and his co-host believe this could be the catalyst for an XRP bull run – assuming market conditions continue to improve.
Related: ‘Study Crypto’: Former Finance Minister Stresses China’s Role Amid US Shifts Policy
Neuner was also big on Injective, an interoperable L1 blockchain he has personally invested in recently. The analysts agreed that the coin was “yet to make its run” in 2024, however was steadily gaining traction and adoption.
The video also makes note of Near, Arweave and COTI as projects to watch out for in the next altcoin season, with these tokens presenting upside to early investors.
However, Neuner’s baby is still Solana.
[Neuner is] married to Solana for life…Most of my profits are going into SOL.
Ran Neuner
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