- Bitcoin could hit a milestone in Q4.
BTC price surged by up to 171% in the past halving years, and 2024’s trajectory mirrors those patterns.
As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of bull runs and bear markets. However, the trajectory of Bitcoin (BTC) in 2024 has me genuinely excited. With its current momentum driven by increasing demand, particularly from institutions seeking a hedge against inflation, it’s not hard to imagine BTC hitting $85,000-$100,000 by the end of Q4 2024.
According to predictions, Bitcoin (BTC) might soar to heights between $85,000 and $100,000 by the end of Q4 in 2024. This optimistic outlook is based on increasing interest, past patterns observed during specific seasons, and indicators from its underlying technology. The price trend seems to be climbing steadily due to these factors.
Historically, Bitcoin has done well during halving years, and 2024 will not be an exception.
Rising demand boosts Bitcoin’s rally potential
The steady increase in Bitcoin’s current momentum during the year 2024 appears to be driven by accumulating demand. As per the most recent analysis provided by Cryptoquant, the indicators point towards BTC potentially reaching important price thresholds at which short-term investors often cash out following a surge.
A tendency suggests a possible opportunity for gains within the price range of $85,000 to $100,000; however, the overall sentiment in the market remains positive.
As an analyst, I’ve observed that institutional interests have significantly influenced the recent price surge in Bitcoin. Many market participants now view it as a strategic hedge against inflation and a secure asset during uncertain times. This growing demand could potentially propel Bitcoin to a range of $85k-$100k by Q4 2024.
Historical halving trends signal more gains
So far, the 2024 performance of Bitcoin is in lockstep with that of previous halving years.
2012 saw a 9% increase in price during the last quarter of the year. In contrast, the price climbed an impressive 59% in 2016. However, the most remarkable growth occurred in 2020, where Bitcoin surged a staggering 171%.
2024 marking as a halving year, the movement in the cryptocurrency’s price has placed it advantageously for a powerful surge by the end of Q4 (Fourth Quarter).
The consistent pattern in Bitcoin’s history lends credence to the belief that it could reach a price between $85,000 and $100,000, as its performance often reaches high points during the final stages of the halving cycle.
Is Bitcoin edging for a milestone move?
When Bitcoin nears prices between $85,000 and $100,000, many short-term investors typically decide to withdraw their profits following these market surges.
Although it may cause temporary fluctuations, it doesn’t indicate a prolonged decline in the future.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
In reality, this situation shows signs of a vibrant market, with long-term investors consistently applying an upward force.
As an analyst, I am observing a significant increase in demand for Bitcoin, coupled with robust on-chain metrics and favorable historical trends. This convergence suggests that Bitcoin could potentially reach a price range between $85,000 and $100,000 by the end of 2024’s fourth quarter.
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2024-10-07 12:07