Could Bitcoin Enter Madness? Target $150,000 by the End of the Year!
According to some analysts, Bitcoin could enter a “madness period” and rise to $150,000 by the end of this year.
Real Vision analyst Jamie Coutts said that “unless something fundamental has changed,” Bitcoin could still enter a “madness period.”
This period is reminiscent of the period known as the “Banana Zone” by Real Vision founder Raoul Pal.
Year-end target for Bitcoin price
Coutts noted in the chart he shared that in the previous two bull cycles, Bitcoin reached new record highs within 365 days of the local US Dollar Index peaks.
If Bitcoin follows previous bull market patterns, he suggested that BTC could reach $150,000 by the end of 2024, up more than 100 percent from its current level.
However, other analysts are not so optimistic in the short term. CryptoQuant researcher “XBTManager,” said that there could be a big selling pressure on Bitcoin
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