Can $BTC reach $100,000 in 2024? Key indicators and demand reveal the secret!
Bitcoin is expected to reach $85,000 to $100,000 this quarter, especially in the fourth quarter, which may usher in a big explosion.
Looking back at history, Bitcoin has always performed well in the years of halving. 2024 is also a halving, so this trend is likely to continue the previous pattern.
Bitcoin's current rise is mainly due to the continued growth in demand in 2024. According to the latest analysis, various indicators show that Bitcoin is approaching important price levels, and short-term traders are beginning to consider profit-taking.
Institutional interest in Bitcoin is also key to the surge in prices. Many people use it as a hedge against inflation and a safe haven in uncertain times. This demand is expected to push Bitcoin to $85,000 to $100,000 in the fourth quarter of 2024.
Looking at historical data again, Bitcoin always performs strongly after halving. It rose by 9% in the fourth quarter of 2012, 59% in 2016, and 171% in 2020. Therefore, in 2024, as the half-year period, the price of Bitcoin is likely to usher in a big explosion.
Although short-term traders may start to cash out when Bitcoin approaches $85,000 to $100,000, causing some fluctuations, this does not affect the long-term upward trend.
With the increase in demand and the support of on-chain indicators, coupled with the convergence of historical patterns, Bitcoin is likely to enter the range of $85,000 to $100,000 by the end of the fourth quarter of 2024.
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