2024

Bitcoin

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According to a recent report by CCData, a digital asset data provider, the Bitcoin (BTC) price is&nbsp;<a href="https://www.cnbc.com/2024/07/02/bitcoin-to-hit-new-all-time-high-this-year-if-history-plays-out-report.html?taid=6683f63ee401430001101656&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter%7Cmain" rel="noopener noreferrer nofollow">likely</a> to see a new all-time peak in 2024.&nbsp;
It noted that previous cycles featured a parabolic advance, a short period of extreme price appreciation, that is yet to occur this time around.&nbsp;
CCData's report claims that the current bull cycle could end up expanding into 2025.&nbsp;
There has been plenty of speculation about the interconnectedness of quadrennial block reward reduction events and Bitcoin's price performance.&nbsp;
This cycle is unusual due to the fact that&nbsp;<a href="https://u.today/krueger-bitcoin-price-to-double-this-year" rel="noopener noreferrer nofollow">Bitcoin</a> broke a prior peak and reached its current all-time high of $73,737 before the halving event in April. It bucked the trend due to the introduction of several spot Bitcoin exchange-traded funds in early 2024 that caused a flurry of excitement within the investment space and broke multiple records.&nbsp;
Now, a plethora of analysts are busy speculating whether or not Bitcoin will still be able to reach a new peak this year after eclipsing the all-time high of the previous cycle in March. As&nbsp;<a href="https://u.today/top-trader-peter-brandt-predicts-how-high-bitcoin-btc-price-might-go-in-this-cycle" rel="noopener noreferrer nofollow">reported by U.Today</a>, commodity trader Peter Brandt has estimated that there is a 25% probability that the flagship cryptocurrency has already reached its apex before experiencing "exponential decay." For now, however, the consensus appears to be that Bitcoin will be able to reach&nbsp;<a href="https://u.today/novogratz-predicts-bitcoin-will-break-100000-in-2024" rel="noopener noreferrer nofollow">a six-figure milestone</a> this year or in 2025.
During the previous cycle, it took Bitcoin 547 days after the 2020 halving to reach its peak of roughly $69,000 before it entered a brutal bear market.
According to CCData, the current streak of boring range-bound price action is only temporary, and the leading cryptocurrency is still likely to surpass its March peak.

Bitcoin (BTC) Price Likely to Hit New ATH in 2024: Report

U_Today

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