Bitcoin Price Forecast: Q4 Forecast: Parabolic Rise to $120,000


After the US Federal Reserve (Fed) reduced interest rates on September 18, Bitcoin has traded between $62,000 and $64,000 for five days.

This important Fed action has markets optimistic. However, Bitcoin has failed to hold above $64,000, which, if overcome, may lead to a retest of previously lost resistance levels and $70,000.

Bitcoin Price To Hit Record Highs?

As the market enters Q4, numerous experts remain bullish about the Bitcoin price despite this short-term stalemate. Lark Davis, a market specialist, said that Bitcoin's average Q4 return is 88%.


Davis predicted that Bitcoin would reach about $120,000 if it replicated this behavior. Even a modest 55% increase, comparable to last year, would cost $100,000.

The introduction of the Bitcoin exchange-traded fund (ETF) market, the US elections, and the estimated $16 billion in cash repayments from the bankrupt FTX exchange might also influence price swings this year, according to the expert.

However, Bitcoin price swings seem to be “artificially constrained.”

Analysts Predict Final Drop Before Price Gains

Analyst InspoCrypto says price activity has been stuck around $63,000, blocking breakout efforts. A major institutional options trader apparently conducted a block trade to stabilize Bitcoin's price till October 4.

InspoCrypto adds that the Spot Cumulative Volume Delta (CVD) follows a distribution pattern even as prices climb, whereas the Futures CVD shows a divergence, implying that futures trading has caused recent price hikes.

The Whales vs. Retail Ratio research from Hyblock shows that whales are accumulating short positions while retail investors are betting on long holdings, which might be negative for them.

However, InspoCrypto expects one more decline before the market reaches $80,000 or $85,000 ATHs.

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