Expectations for the next big rise Bitcoin After the start of this bullish cycle, it continues to increase within the cryptocurrency community. However, the wait may be over as cryptocurrency experts predict that BTC could rise in the final quarter of this year.
Bitcoin likely to reach all-time high by year-end
Author and network economist Timothy Peterson quoted The outlook for Bitcoin in the fourth quarter of 2024 is positive, predicting that the crypto asset is poised for a near-term price surge, possibly reaching new highs by the end of the year.
The analyst made a bold prediction after examining some historical BTC price movements in the fourth quarter, increasing his optimism about the crypto asset's potential in the coming months. Some factors that are currently showing improvement growing demandincreased whale accumulation, and strong market sentiment may also contribute to this impending surge.
According to analysts, Bitcoin's performance typically improves significantly in the fourth quarter. On the other hand, bear market years like 2022 and 2018 are usually exceptions, but 2024 is not one of those years.
As a result, Peterson expects the value of the digital asset to rise by 30% to 60%, and is confident in BTC's potential in this final quarter. He further expressed extreme optimism about Bitcoin's near-term capabilities, noting that there is a more than 40% chance that BTC will reach a staggering $100,000 price by the end of 2024. Ta.
Mr. Peterson believes that despite slowing price movements, BTC will continue to grow by the end of the year as BTC continues to struggle to regain its current all-time high of around $73,000, reached in March of this year. We are optimistic that the coin can reach new all-time highs.
Since then, the coin Integrated modeVaries between $55,000 and $67,000. However, cryptocurrency analyst Negentropic believes the correction is over. predict BTC’s next rally is just beginning.
Negentropic attributed his prediction to Bitcoin's resilience in the face of geopolitical risks witnessed last week, saying it shows strong fundamentals considering the turmoil that caused BTC's decline. . Notably, this resilience for BTC is primarily driven by network growth and increased liquidity, suggesting that the upward move is “just beginning.”
Has the recent rebound ended?
so far, BTC A market-wide recovery on Monday retested $63,000 before experiencing another decline. Although this movement has been occurring recently, there is still some confusion within the community. rally In the short term.
Despite the asset value falling nearly 2% in the past day to $62,290, trading volume showed a positive outlook, increasing more than 64% in the past 24 hours. Increased trading volume indicates the presence of market participants and could lead to a price rebound.
Featured image from Unsplash, chart from Tradingview.com
