10x Research founder and CEO Markus Thielen believes Bitcoin will hit a new record high in Q4.
The US Federal Reserve's decision to cut interest rates by 50 basis points has sparked a recovery in global markets, including Bitcoin and cryptocurrencies.
Gold prices, BTC’s biggest rival following the decision, have risen more than 5% over the past two weeks, hitting a new record of $2,629 per ounce on September 23.
As gold hits an all-time high, many crypto analysts predict Bitcoin will also break a new record, sharing when this ATH could happen.
Markus Thielen, founder and CEO of 10x Research, has made an optimistic prediction that BTC will hit new highs in Q4.
He believes that Bitcoin could follow the trend of gold, peaking between October and March, with the possibility of an ATH by the end of the year.
He stressed that a new high will be recorded before the end of 2024, in a note to investors, Thielen said:
“Bitcoin’s performance in 2024 will continue to follow seasonal patterns, just like in 2023. Therefore, investors should expect a major breakout in Q4 2024, possibly reaching a new all-time high.”
Bitcoin, after hitting $64,700, is currently trading at $63,594.
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