As the market shows signs of recovery from the crypto winter, all eyes are on the pioneer cryptocurrency, Bitcoin. Following its previous drop to $57,000, Bitcoin is now showing strong resilience around the $61,000 price level.

Meanwhile, after observing such strong support, cryptocurrency analysts predicted that the Bitcoin price will rise to $100,000 by the end of 2024, citing a late-summer correction.

Bitcoin target for Q4 2024: $100,000

Stockmoney Lizards, a well-known cryptocurrency analyst, has revealed an optimistic roadmap for Bitcoin’s future price trajectory, indicating huge potential for price appreciation in the coming years.

Stockmoney Lizards predicts a strong rise in Bitcoin prices in the fourth quarter of 2024, possibly reaching a new high of around $100,000. However, Bitcoin may see some price corrections, which could create a positive environment for the crypto market.

The much-anticipated fourth Bitcoin halving event has taken place, marking a major milestone. The reduction highlights Bitcoin’s deflationary economic model, which is designed to limit the issuance of new coins over time.

The sudden reduction in Bitcoin supply is expected to put pressure on the market, potentially causing prices to rise as Bitcoin moves towards new all-time highs.

(Personal opinion, not a recommendation)

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