Many observers are optimistic about the future trend of Bitcoin, especially as it enters the final stage of 2024. Some experts predict that Bitcoin has a 25% chance of hitting a new historical high within the year, and this prediction has brought a lot of expectations to investors.
Recently, the German government has continued to sell Bitcoin, and the Mt. Gox exchange has begun to repay creditors. Although Bitcoin has dropped several times, it continued to rise in the volatile market yesterday, breaking through the $58,000 mark several times this morning, showing a fierce battle between long and short sides.
At the time of writing, Bitcoin is trading at $57,903, up 2.45% in 24 hours.
Well-known Bitcoin analyst Timothy Peterson has an optimistic forecast for the upcoming fourth quarter, believing that Bitcoin's bullish sentiment will re-emerge, and stressed that the performance in the next few months is crucial. Peterson specifically pointed out that if Bitcoin can break through the $50,000 mark by the end of July, then its chances of maintaining or exceeding this level in October will greatly increase, with a probability of up to 60%.
What’s even more exciting is that Peterson also put forward a bold hypothesis: Bitcoin has a 25% probability of setting a new historical record within the year. Although reaching a high of $100,000 seems a bit far-fetched, this prediction still retains a 10% probability, which undoubtedly adds more imagination to the market.
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Bitcoin is currently experiencing a bear trap, and many people believe that the bull market is over, but historically, the market always rebounds after each halving. Currently, the US money supply is expanding and the Federal Reserve's expectations of rate cuts are increasing, which will benefit the Bitcoin market in the long run.
Long-term holders accumulate Bitcoin at market lows and wait for the market to recover, while short-term holders are easily affected by market sentiment and make wrong decisions.
The Bitcoin market is full of volatility and uncertainty, but it also provides good investment opportunities. Investors should pay attention to the macroeconomic environment, ETF market trends and halving cycles, and seize the market lows to make layouts. As a long-term investment tool, Bitcoin needs to maintain patience and confidence to welcome the future rise.
