The pseudonymous crypto analyst @pakpakchicken on X (formerly Twitter) has gained recognition for accurately predicting the market bottom during the Bitcoin price decline in early September. Having successfully called this market move, the analyst has once again taken to social media to guide Bitcoin investors on the next steps as the price continues to recover.
In early September, @pakpakchicken shared a liquidation heatmap revealing that many Bitcoin traders had suffered significant losses due to the price decline below $57,000. This wipeout of positions led to a surge in liquidations, prompting the analyst to advise investors to seize the opportunity and invest in Bitcoin during the market crash.
The analyst emphasized that the most profitable trades are often made when buying during market downturns. Additionally, he predicted that the Federal Reserve would cut rates, providing further momentum for Bitcoin’s price increase. As expected, the Fed did indeed cut rates, resulting in a positive trajectory for Bitcoin and the overall crypto market.
With Bitcoin’s price trending upwards, @pakpakchicken now recommends a shift in strategy for investors. While the temptation to take profits may be strong, the analyst advises holding onto investments and waiting for better prices, suggesting holding until 2025 for optimal returns.
“We’ve been programmed to take profit for chopping markets, we forget how is it like during trending markets,” the crypto analyst said. “Switch your strategy. It’s time. Don’t take profit too early. Be more tolerant to dips. For now, I see a clear path to mid 2025.”
Bitcoin is poised to achieve its most bullish September on record, indicating a potentially bullish trajectory for the coming months. Data from the Coinglass website shows that Bitcoin’s price has already increased by 7.28% in September, surpassing its previous record set in September 2016.
Historically, when September closes in the green, the following months of October, November, and December also tend to end positively. Therefore, if Bitcoin maintains its upward trend in September, the fourth quarter of the year is expected to continue the recovery, potentially leading to a new all-time high before the end of 2024.
As the chart above illustrates, the BTC price has surpassed $64,000, reflecting the positive momentum in the market. With the potential for further growth and a bullish outlook for the coming months, investors are advised to adopt a long-term perspective and capitalize on the current market conditions for maximum gain.
In conclusion, @pakpakchicken’s insights and predictions offer valuable guidance for Bitcoin investors navigating the volatile cryptocurrency market. By staying informed, adopting a strategic approach, and exercising patience during market fluctuations, investors can position themselves for long-term success and capitalize on the potential growth opportunities presented by Bitcoin’s ongoing recovery.
