Bitcoin enthusiasts are gearing up for a thrilling final quarter of 2024, with two leading analysts presenting starkly different forecasts.
Henrik Zeberg, the head macro strategist at Swissblock, is igniting excitement among his 155,900 followers on X with a bold prediction: Bitcoin (BTC) could soar to between $115,000 and $123,000 by yearâs end. Zeberg believes the market has hit a critical juncture, aligning with a forecast he made back in November 2022. With the S&P 500 projected to reach 6100-6300, he anticipates a "blow-off top" rally that could send BTC skyrocketing nearly 100% from its current price of $61,999.
However, not everyone shares Zeberg's bullish outlook. Renowned crypto analyst Benjamin Cowen, with an audience of 862,400 on X, suggests a more cautious approach. He posits that Bitcoin might need an additional six to nine months to consolidate after its recent mid-cycle top. Cowen warns that potential labor market issues could lead to a dip in $BTC , possibly testing its 100-week simple moving average.
As these forecasts unfold, traders are left to navigate a landscape of both optimism and caution. With the crypto world buzzing and economic indicators looming, all eyes will be on Bitcoin as it approaches a potentially explosive end to the year. Stay tuned for what could be a historic ride!
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