2024

Bitcoin

<p>The post <a href="https://coinpedia.org/news/bitcoin-price-prediction-2024-btcprice-has-a-60-chance-to-reach-new-high-by-october/">Bitcoin Price Bounces Back? Analysts See Bullish Return by Q4</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>After a major crypto capitulation last week, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin (BTC)</a> has been striving to reclaim the support level of around $56,000. However, fear of further declines has driven the total digital asset valuation down by approximately 3.3 percent in the past 24 hours, settling at about $2.14 trillion early Monday.</p> 
<p>In the short term, the absence of significant crypto events has amplified overall market pessimism.</p> 
<p>Many analysts believe the crypto industry will mirror the major stock indexes’ ongoing bull run as the year progresses. Additionally, more miners are expected to resume operations after recently pausing to update their rigs. The fourth halving event’s impact will also become more apparent as institutional investors increasingly adopt Bitcoin and other digital assets.</p> 
<p>Dive deeper to find out what analysts predict for the rest of the year, and whether Bitcoin can break free from this current struggle.</p> 
<h2 class="wp-block-heading" id="h-expert-predictions-on-bitcoin-s-future">Expert Predictions on Bitcoin’s Future</h2> 
<p>Timothy Peterson, a seasoned Bitcoin analyst and economist, predicts that bullish sentiment will likely return in the fourth quarter of 2024. According to Peterson, if Bitcoin closes July above $50,000, there’s a high probability it will remain above this level by October.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">After a -25% drawdown from ATH, there is a 60% chance <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> will be higher in 3 months. <br>There's a 25% chance of a new ATH.<br>There's even a +10% chance it could reach $100K in that time. <a href="https://t.co/ZiB37uK0Xe">pic.twitter.com/ZiB37uK0Xe</a></p>— Timothy Peterson (@nsquaredvalue) <a href="https://twitter.com/nsquaredvalue/status/1810175323692302597?ref_src=twsrc%5Etfw">July 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Statistically, Peterson suggests a 60 percent chance that Bitcoin will trade higher from its current level three months after a 25 percent drawdown from its all-time high. Conversely, he notes a 25 percent chance that Bitcoin will reach a new all-time high within the same period.</p> 
<h2 class="wp-block-heading" id="h-understanding-the-market-impact">Understanding the Market Impact</h2> 
<p>Bitcoin’s price has been stuck in its largest correction phase following significant gains since the start of last year. The mainstream adoption of Web3 protocols and digital assets, driven by institutional investors, has significantly boosted overall crypto liquidity and bullish sentiments.</p> 
<p><strong>It’s Starting to Look Bullish! </strong></p> 
<p>The likelihood of a bullish continuation later this year, amid the U.S. general election and anticipated interest rate cuts, remains relatively high. As the market navigates these developments, the future of Bitcoin and the broader crypto market continues to capture the attention of investors and analysts alike.</p> 
<p>Read Also: <a href="https://coinpedia.org/price-analysis/crypto-market-analysis-bitcoin-ethereum-and-altcoins-show-gains/" target="_blank" rel="noreferrer noopener">Crypto Market Analysis: Bitcoin, Ethereum, and Altcoins Show Gains!</a></p> 
<p><strong>Time to invest! Or are you waiting for a better entry point? Let us know!</strong></p>

Bitcoin Price Bounces Back? Analysts See Bullish Return by Q4

Table of Contents

CoinPedia News

Other articles published on Jul 8, 2024

US Republicans under Trump include crypto in official party platform

Join The Crypto Millionaire Club: Here’s Why Investors Are Jumping Into This New Crypto Over The ...

Can Bitcoin Overcome the $56K Resistance Level?

U.S. House vote to overturn Biden’s SAB 121 veto set for Wednesday

Peter Schiff Labels Bitcoin ETF Investors as “Dumb Money”

New Cryptocurrency Releases, Listings, & Presales Today – Glitch, 99Bitcoins, Biturbo

Join our free newsletter for daily crypto updates!