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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-bullish-trends-signal-potential-price-surge-to-172800-dollars/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Bullish Trends Signal Potential Price Surge to 172,800 Dollars</a> 
In the past week, Bitcoin’s price has seen a robust recovery, climbing over 8.5% to approach the $64,000 level. Crypto bulls are preparing for a potential increase of up to 171% in BTC during the fourth quarter.
<h2 id="can-bitcoin-reach-172-800-dollars-in-the-fourth-quarter">Can Bitcoin Reach 172,800 Dollars in the Fourth Quarter?</h2>
Following the Federal Reserve’s decision to lower interest rates by 50 basis points this month, attention turns to how BTC will perform in the fourth quarter of 2024. After the halving event, BTC has been trading in a narrow accumulation range between $50,000 and $70,000. However, the recent liquidity boost from the Fed could trigger a significant rally in the fourth quarter.
Prominent <a href="https://en.coin-turk.com/bitcoin-faces-potential-drop-to-31500/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/trump-initiates-crypto-donations-for-his-campaign/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> analyst Ali Martinez highlighted BTC’s performance during previous halving events in 2016 and 2020. During the fourth quarter of 2016, BTC’s price rose by 61%, and in 2020, it saw an increase of over 171%. If Bitcoin replicates this performance, it could soar to between $100,000 and $172,000 by year-end.
Martinez noted, “Bitcoin gained 61% in Q4 2016 and 171% in 2020. Interestingly, the price movements in 2024 seem to resemble both years. Could history be repeating itself?”
<h2 id="key-factors-influencing-btc-price">Key Factors Influencing BTC Price</h2>
10X Research reported that the market structure has shown improvement due to an increase in stablecoin issuance and rising futures leverage. Referring to past halving cycles, the report indicated a heightened possibility of a BTC price breakout as the fourth quarter approaches. However, this requires Bitcoin to surpass $65,000, with the price currently trading at $63,549.
Meanwhile, the bankrupt crypto exchange FTX is preparing to distribute $16 billion to creditors. Many market analysts believe this liquidity will flow back into Bitcoin and crypto markets, causing increased volatility.
As BTC climbs, market analysts believe an <a href="https://en.coin-turk.com/near-protocol-sees-notable-20-surge-in-token-price/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoin</a> season is just weeks away. Ethereum has already shown strength, gaining 16% last week. However, with increasing deposits from Ethereum whales, analysts remain undecided about the future direction of ETH. On the other hand, spot Bitcoin ETFs have regained momentum, with $397 million in inflows last week, led by Fidelity’s ETF FBTC.
The performance of Bitcoin in the fourth quarter remains a subject of intrigue among investors and analysts. Strong surges observed in previous halving cycles suggest the possibility of a similar trend this year. However, market dynamics and macroeconomic factors could complicate this period. It is essential for investors to consider market risks and volatility when evaluating Bitcoin’s potential.
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Bitcoin Bullish Trends Signal Potential Price Surge to 172,800 Dollars

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