Analysts are forecasting that Bitcoin could hit between $108,000 and $155,000 by the end of 2024. According to analyst James Van Straten, the current price behavior of Bitcoin reflects patterns from the last two cycles following significant lows. After the FTX collapse in late 2022, Bitcoin entered a new cycle, and its performance is resembling previous trends.
Van Straten notes that both earlier cycles experienced price rallies beginning in September, leading to substantial bull runs. If this cycle follows suit, Bitcoin could potentially close the year between $108,000 (a 70% increase) and $155,000 (a 144% increase). These projections are contingent on stable economic conditions and the absence of a recession.
In related news, IntoTheBlock reported a notable increase in Tetherâs stablecoin supply, which has reached a market cap of approximately $120 billion. This surge suggests that there may be increased liquidity available for Bitcoin purchases, as USDT typically flows into BTC.
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