**Bitcoin's Q4 Outlook: Analysts Predict Major Gains**

Bitcoin (BTC) is trading 7% below its recent high of $66,508 from Sept. 27, but analysts are optimistic about its future. Jamie Coutts from Real Vision notes that Bitcoin's valuation metrics have dropped from overbought levels, suggesting it's undervalued and poised for gains. The MVRV Z-score indicates BTC is undervalued across multiple timeframes.

Coutts also highlights high open interest (OI) in Bitcoin futures, signaling strong market sentiment. Global liquidity is rising, which historically correlates with Bitcoin's price increases. Independent analyst Lyn Alden supports this, showing a 0.94 correlation between BTC and global liquidity since 2013.

September was Bitcoin's greenest ever, closing 7.29% higher. However, analyst Timothy Peterson warns that US election years typically bring volatility, affecting Bitcoin's performance. Despite this, Peterson believes clearer political outcomes could boost BTC in November and December.

Another analyst, Archie from BTC Archive, predicts Bitcoin could hit six figures by the end of 2024, following its strong September performance.

This article is for informational purposes only. Always conduct your own research before making investment decisions.