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<ul> 
 <li>Blockstream CEO Adam Back predicts Bitcoin (BTC) will surpass $100,000 before its 2024 halving event.</li> 
 <li>Currently, Bitcoin struggles to break the crucial resistance level of $30,000.</li> 
 <li>Still, BTC golden cross and moving averages hint at potential future price growth.</li> 
</ul> 
While Bitcoin (BTC) <a href="https://thenewscrypto.com/bitcoin-btc-price-faces-selling-pressure-whats-next/" target="_blank" rel="noopener noreferrer nofollow">trading below</a> $30K range, experts are pointing to bullish indicators that hint at the possibility of Bitcoin reaching an all-time high in the near future. Blockstream, a leading blockchain technology service provider, CEO Adam Back, one of crypto pioneers recently engaged in a million-dollar wager regarding Bitcoin’s price trajectory. He believes that BTC would reach $100,000 by March 31, 2024. 
Blockstream CEO confidently predicted that Bitcoin will <a href="https://thenewscrypto.com/mining-news-stablecoin-issuer-tether-introduces-software-for-bitcoin-mining-gears/" target="_blank" rel="noopener noreferrer nofollow">surge over</a> $100,000 before the BTC halving event which is expected to happen in 2024. This wager was made in response to a challenge posed by X (formerly known as Twitter) user Vikingobbitcoin, who believes the milestone won’t be reached until 2025. Adam tweeted about the bet to his 540K followers. 
However, Bitcoin remains standing at $29K, teasing $30K for the past few months. What will it take to push it past $30K? 
<h2 class="wp-block-heading" id="h-bitcoin-btc-24-hour-price-analysis">Bitcoin (BTC) 24-Hour Price Analysis</h2> 
BTC has maintained its value below the $30,000 mark, with the asset struggling to break the crucial resistance level amid extended consolidation across the global crypto market. At the time of writing, Bitcoin price stands at $29,099 with a 24 hour trading volume of $8 billion, indicating a 28% surge in <a href="https://thenewscrypto.com/bitcoin-price-consolidates-trading-volume-down-30/" target="_blank" rel="noopener noreferrer nofollow">trading activity</a>. Also, Bitcoin price has seen a slight surge of 0.5% in a day. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
 <img decoding="async" width="1024" height="517" src="https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-Price-Chart-1024x517.png" alt="" class="wp-image-80241" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-Price-Chart-1024x517.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-Price-Chart-300x151.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-Price-Chart-768x388.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-Price-Chart-150x76.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-Price-Chart.png 1310w" sizes="(max-width: 1024px) 100vw, 1024px"> 
 <figcaption class="wp-element-caption">
 Bitcoin (BTC) Price Chart (Source: Tradingview) 
 </figcaption> 
 </figure> 
</div> 
This recent price movement comes as the 50-day moving average approaches the 200-day moving average, signalling a potential buy opportunity. Daily frame chart displays the price of Bitcoin below the 50 Exponential Moving Average (EMA). Further, Relative Strength Index (RSI) currently stands at oversold state, indicating a slight advantage for bears. 
If Bitcoin manages to breach the $31,106 resistance level, it could pave the way for a substantial rise to $38,779. Conversely, if the <a href="https://thenewscrypto.com/btc-continues-to-fall-can-bulls-regain-the-momentum/" rel="noopener noreferrer nofollow">bears</a> take the lead the price of BTC immediately moves below the support at the level of $28,410 and might head to a downward shift, targeting levels of $27,088 and potentially even $24,947. 
Further, Bitcoin’s technical analysis suggests that the cryptocurrency might be headed for another all-time high based on historical price movements. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
 <img decoding="async" width="1024" height="457" src="https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-ma-1024x457.png" alt="" class="wp-image-80242" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-ma-1024x457.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-ma-300x134.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-ma-768x343.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-ma-150x67.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/08/Bitcoin-ma.png 1270w" sizes="(max-width: 1024px) 100vw, 1024px"> 
 <figcaption class="wp-element-caption">
 Bitcoin (BTC) Chart (Source: Tradingview) 
 </figcaption> 
 </figure> 
</div> 
A notable development is the recent accomplishment of the third-ever golden cross pattern, a long-term bullish signal. The golden cross is a bullish breakout pattern formed from a crossover, which a short-term moving average crosses above a long-term moving average. Crypto trading analyst TradingShot highlighted this pattern on August 4, noting that historical instances of this pattern have been associated with significant rallies to all-time highs. 
In the 3 day time-frame, Bitcoin just formed a Golden Cross. The MA200 provided support to a fresh all time high rally when BTC completed this pattern last two times. Will Bitcoin Price reach $100,000 before halving? Share your thoughts by tweeting us at @The_NewsCrypto 
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Can BTC Reach $100K Before Halving? Blockstream CEO Thinks So!

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