A cryptocurrency trader claims bitcoin (BTC) could soar to the six-figure mark in the fourth quarter of 2024.
In a new thread, crypto analyst Altcoin Sherpa told his 215,900 followers on social media platform X that the bull cycle for major crypto assets by market capitalization is not over yet.
"I don't think the cycle is 'over' yet, I think we are still in for a mania when #ETFvsBTC hits the six-figure mark. " "I still don't think it's 'over' and that this cycle is over.
According to this pseudonymous analyst, the #cryptocurrency could "gigapoint" to a price of $100,000 in Q4 2024.
However, Altcoin Sherpa argues that BTC has some compelling bearish scenarios and could fall 35% from its current price before rising to the six-figure mark.
'Is it really over? I don't think so. But I think this price movement will lead to a larger downtrend/reversal - even if BTC falls to $40,000-$50,000, it will be bullish on a longer time horizon. '
We haven't reached that level yet, but further erosion may be required - I can envision a scenario where BTC reaches $40,000-$50,000, everything gets wiped out, chopped for 3-4 months, and then followed by a gigabyte breakout to $ 100,000 in Q4 2024. "
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