The world’s largest cryptocurrency, Bitcoin (BTC), has been struggling to surpass the $61,000 mark. At press time, BTC was trading at $60,994.09 following a 2.85% daily surge.
It should be noted that the asset jumped from a low of around $59,000 to a high of $61,800. Amidst this rise and fall of the king coin, several have been hoping for an uptick in the network in the coming months.
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Analyst’s Prediction for Bitcoin
A cryptocurrency analyst named Mikybull Crypto posted on X, stating that the king coin had good days ahead.
Bitcoin is expected to reach yet another record high in the year’s final quarter. The investigation revealed Bitcoin’s cyclical nature, especially its past performance during the “Summer Phase.”
The analyst advised investors to “ignore the summer phase” and focus on preparing for the impending rebound. Notably, a significant price shift that could propel Bitcoin to new heights is expected to precede the current stabilization phase. Sounds good, right?
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So How High Can BTC Surge In the Next Quarter?
As seen in 2022 and 2023, the price of Bitcoin tends to stabilize or perhaps slightly drop during these periods. But these times are usually followed by a sudden spike higher, which Mikybull Crypto predicts will happen again in 2024.
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Forecast for Q4 2024
According to his forecast, during the fourth quarter of 2024, Bitcoin might see one of its biggest bull runs ever. The asset might rise as high as $95,000 and ultimately $143,000. The asset is currently 17% below its all-time high of $73,750. We’re curious to see how the situation evolves. Join us in the wait!