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Nidhi Kolhapur
Nidhi Kolhapur
Author
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- Sep 23, 2024 08:35 UTC
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Bitcoin Bull Run Begins Soon! Analysts Predict Q4 Surge to $155,000
Cryptocurrency analysts are optimistic about Bitcoin's growth in the fourth quarter.
Van Straten's optimism is based on historical performance trends in September.
Bitcoin's recent price surge and positive market sentiment support the optimistic outlook.
As we approach the fourth quarter, a wave of optimism surrounds Bitcoin’s growth potential, with analysts sharing different insights on what drives their expectations. Among the latest to join this group of ‘crypto optimists’ is CoinDesk Senior Analyst James Van Straten, who offers a compelling reason for his optimism.
Curious to find out more? Here’s what you need to know!
Bitcoin’s Historic Cycle Trends
In a recent post on X, Van Straten shared a chart that shows the price movement of three Bitcoin market cycles: 2015 to 2018, 2018 to 2022, and the current cycle since 2022. The chart reveals a striking pattern—Bitcoin has consistently performed well in September during these cycles.
Bitcoin Price Analysis
In just the past week, Bitcoin has seen impressive growth of 8.6%, bringing its current price to about $63,458. Just a week ago, on September 17, Bitcoin was valued at $58,287. This upward momentum gained speed after the U.S. Federal Reserve announced an interest rate cut, boosting market confidence. At the start of the month, Bitcoin was priced around $58,998 and dropped to a low of $53,947 on September 6. After September 7, the market turned mostly bullish, with the only significant pullback happening between September 14 and 16, when prices fell from over $60,000 to below $58,300.
Van Straten’s Bold Prediction
Like many ‘crypto optimists,’ Van Straten has a very bullish outlook for Bitcoin in Q4 2024. He predicts that Bitcoin could reach between $108,000 and $155,000 by the end of the year, backed by the trends shown in his chart. This visual evidence strongly supports Van Straten’s hopeful view.
If the current Bitcoin cycle follows the patterns of past cycles, it’s reasonable to expect the market to aim for the impressive price levels that Van Straten predicts. His chart shows that the ongoing cycle is tracking within the limits set by previous ones. However, he also notes that if the global market experiences a recession, reaching these predicted price ranges could become much more challenging.
The potential for Bitcoin’s growth is limitless. The only question is, are you willing to invest?
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