Key Points
- Bitcoin’s prolonged price range could soon end, indicating a potential bull run.
- Analysts predict Bitcoin could surpass $90K in Q4 2024.
Bitcoin [BTC] has experienced a turbulent price range for over half a year, causing some traders and investors to remain on the sidelines.
Despite a relief rally to $64K triggered by last week’s Federal Reserve pivot, some market experts have expressed caution due to the looming U.S. recession.
A Potential End to the Price Range
Bitcoin analyst Crypto Con has suggested that the stagnant price range could be nearing its end. This is based on the historical patterns of the Puell Multiple, a metric used to gauge market cycle tops and bottoms based on miner profitability.
The current ‘mid-top correction end’ is reportedly the second-best time to buy discounted BTC before the next price increase. This sentiment was also expressed by another BTC analyst, Willy Woo.
Market Predictions for Bitcoin
Market experts are increasingly sharing a bullish outlook for Q4 and 2025. Geoff Kendricks, Head of Digital Asset Research at Standard Chartered, has predicted that BTC could reach $200K by the end of 2025, regardless of the outcome of the US elections.
Market analyst Stockmoney Lizards has similarly estimated that BTC could hit between $90K-$100K between Q4 2024 and early 2025.
However, it’s important to note that past performance doesn’t necessarily predict future BTC results. Geopolitical factors and other macro updates could also impact these projections. Therefore, keeping track of these developments alongside expert projections is vital.
