Rally

2024

Bitcoin

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<p>The post <a href="https://coinpedia.org/news/bitcoin-price-prediction-experts-predict-monumental-rally-to-150000-in-2024/">Top 3 Reasons Why Bitcoin Price is Predicted to Hit $150,000 in 2024</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Get ready for an exciting ride as <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> is gearing up for a massive rally in 2024. Market experts, led by the prominent figure at Fundstrat, Tom Lee, are predicting an unprecedented surge that could see Bitcoin reaching a staggering $150,000. </p> 
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   <p lang="en" dir="ltr">.<a href="https://twitter.com/fundstrat?ref_src=twsrc%5Etfw">@fundstrat</a>’s Tom Lee expects stocks to decline in the first half, but hasn't seen signs of a near-term top yet. He joins to discuss: <a href="https://t.co/bBsyAN8foC">pic.twitter.com/bBsyAN8foC</a></p>— Squawk Box (@SquawkCNBC) <a href="https://twitter.com/SquawkCNBC/status/1760279952774107618?ref_src=twsrc%5Etfw">February 21, 2024</a>
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<p>Let’s break down the key factors driving this anticipated rally.</p> 
<h2 class="wp-block-heading" id="h-pre-halving-rally-and-historic-trends"><strong>Pre-halving Rally and Historic Trends</strong></h2> 
<p>Bitcoin’s recent climb over $50,000 is signaling the start of a <a href="https://coinpedia.org/price-analysis/how-high-will-bitcoin-price-hit-before-halving/">pre-halving rally</a>. Traditionally, Bitcoin’s price peaks at 70% of its all-time high before halving. However, this time, the surge has defied norms by surpassing past highs by a remarkable 30%, suggesting a deviation from the usual pattern.</p> 
<p>Adding to the intrigue is Bitcoin’s behavior with Fibonacci levels. Normally, Bitcoin follows a pattern of going up to the 50% to 61.8% Fibonacci levels before retracing back to the 23.6% level. But in an unprecedented move, Bitcoin has not only breached the 61.8% level but is currently trading above $51,000.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/max-keisers-bold-prediction-bitcoin-soaring-to-500k-amidst-us-market-crash/">Bitcoin to $500,000? Max Keiser Sounds Alarm as Stock Market Nears Crash</a></p> 
<p>Now the question arises how high Bitcoin can go and what makes it different?</p> 
<h2 class="wp-block-heading" id="h-three-forces-what-s-pushing-bitcoin"><strong>Three Forces: </strong>What’s Pushing Bitcoin?</h2> 
<p>In a recent <a href="https://x.com/SquawkCNBC/status/1760279952774107618?s=20">interview </a>with CNBC’s Squawk Box, Tom Lee identifies three key drivers fueling Bitcoin’s ascent. Firstly, the approval of <a href="https://coinpedia.org/news/bitcoin-etfs-soar-record-breaking-2-2-billion-influx-in-one-week/">spot Bitcoin ETFs</a> by the SEC has opened the doors for institutional investment, with giants like BlackRock and Fidelity entering the market. This influx is rapidly increasing the demand for Bitcoin.</p> 
<p>Secondly, the upcoming Bitcoin halving event in April is expected to create a supply shock by halving the rate of Bitcoin issuance. Historically, this scarcity-induced dynamic has triggered significant price rallies.</p> 
<p>Lastly, the anticipated reduction in interest rates by the Federal Reserve is set to boost Bitcoin’s appeal as a risk asset, further driving its price upward.</p> 
<h2 class="wp-block-heading" id="h-a-bright-future-for-bitcoin">A Bright Future for Bitcoin</h2> 
<p>Supporting Tom Lee’s optimism, renowned investor Robert Kiyosaki predicts an ultra-bullish scenario, foreseeing Bitcoin reaching $100,000 by June 2024. This outlook reflects the widespread bullish sentiment among investors eagerly anticipating substantial gains in the digital gold’s value.</p> 
<p><strong>Brace for Volatility!</strong></p> 
<p>However many analysts are considering various factors aligning for April, such as the Bitcoin halving, a possible factor for potential volatility, and a selloff. It is expected that Bitcoin can peak between $70,000 and $74,000 before another selloff, with the possibility of surpassing $100,000 or even $200,000 in the future.&nbsp;</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/bitcoin-price-prediction-will-btc-price-hit-new-ath-in-q2-2024/">Bitcoin Price Prediction: Will BTC Price Hit New ATH in Q2-2024?</a></p> 
<p><strong>As the crypto world buzzes with excitement, we want to hear from you. What’s your guess for the Bitcoin price?</strong></p>

Top 3 Reasons Why Bitcoin Price is Predicted to Hit $150,000 in 2024

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