Matrixport: Bitcoin is expected to breakout in the coming weeks

Matrixport predicts a positive outlook for Bitcoin in the fourth quarter. The report states that we are currently in the middle of the third quarter, which is traditionally the most challenging period for Bitcoin. Recently, the price of Bitcoin has started to weaken, and with the upcoming period of fatigue, the challenging trading environment may last for several weeks. However, Bitcoin's market expectations are good for the fourth quarter. From a technical perspective, the Bitcoin trading range is narrowing, indicating that it will soon break through the consolidation period. Based on the expectation of a Fed rate cut and positive developments in the fourth quarter, along with potential boosts from the US presidential election results, we expect Bitcoin to make a breakthrough in the coming weeks.