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There’s huge upward pressure on Bitcoin at the moment, after end-of-month trading in July. There’s still a possibility that a pullback of 10% might occur, but it’s clear that throughout the rest of 2024, the upper target of $100k will stay intact. Here’s why that’s going to happen.
Bitcoin is still the most widely-known token
Within the sphere of cryptocurrency, Bitcoin is still one of the most well-known and well-respected tokens. Its volatility has surged to a large extent and this has caused prices to fluctuate within a narrow range – but are staying close to the upper limit. This means that experts are continuing to be bullish about the future of the bitcoin price overview during the rest of 2024 and that the long-awaited milestone of $100k will happen eventually as referenced on Binance, Yahoo Finance and Forbes websites for example – just perhaps not for the moment.
It’s clear that market dynamics and price movements are changing constantly, however, and this means that Bitcoin prices are ready for some kind of positive explosion at some point, though some accumulations might end up prevailing.
What has prevented Bitcoin prices from rising?
European governments, particularly in Germany have made huge leaps forward in the crypto space, and this has contributed somewhat to the price staying largely static at $70,000. However, prices did rise above $66,000 after the release and launch of the ETH ETF, and these Bitcoin wallets have activated. Data seems to suggest that there’s been a huge rise in the number of tokens that have transferred between wallets since this launch.
Current levels are at a range that hasn’t been since the first quarter of 2005, and from this speculation has arisen that levels will stay roughly in the region during the first quarter bull run in 2024. There’s been a significant rise in unique token transfers and a higher bitcoin circulation, seen as strong indicators that there’s going to be more market activity – if such momentum continues then experts feel that there might be a much more significant market shift underway.
What’s next for Bitcoin in the last quarter of 2024?
So, now we know that Bitcoin is trading around $66,000 – what might happen during the last quarter of 2024? The expert commentators at Yahoo Finance and Binance have been discussing this as the year has progressed. Longer term as we head into the last quarter of the year, Bitcoin is in a bullish range – trading very close to its ATH and it’s believed that the accumulation might persist for some time to come. There’s also been a suggestion of a drop in selling pressure, and this could potentially pave the way for bulls to become dominant again. If there is a bullish crossover, it might mean a fresh rising trend is on the way.
A rise might elevate levels to $80,000, making it a simpler task for the eventual hoped-for achievement of $100,000 meaning that there’s the possibility it could achieve this milestone during the next bullish action.
Can we predict Bitcoin prices for the next few years?
What about Bitcoin prices as we head further into the decade? Can we predict what might happen? Here are a few thoughts for the years ahead.
In 2025, we could see more Bitcoin-related financial services developing – and with it an increase in global adoption, so it’s hoped that Bitcoin will keep to a bullish trend throughout next year. There’s the potential for a possible high of over $140,000 with a low of $61,000 – this means the average could well be in the region of $95,000.
As we head into 2026, prices could fluctuate between $82,000 and $155,000 with an average price projected to be $115,000 – and as the markets open in 2027 prices could range anywhere from
$152,000 to $170,000 – with an average prediction of $160,000, this means there could be a relatively stable and bullish period.
In 2028, there will be a fifth halving – and that means there’s the potential for another bullish spark. There’s the potential for prices to range from $174,000 to $192,000 with an average somewhere in the region of $183,000, bringing a swing to positive momentum. In the following year, 2029 – Bitcoin will break $200,000 with ranges up to $240,000 and an average of $222,000 – this is therefore the year that its value is predicted to rise significantly.
As we enter a new decade it’s expected that Bitcoin prices will keep up their positive trend – reaching an all-time high of up to $347,000.
To summarise the Bitcoin price prediction for 2024, for the first half of the year, experts and investors were confidently talking up bullish positions with the currency. However, with the uptrend average peak of $72,000 and a dominance of $66,000, there’s every chance the bull run could gain some momentum. There are also rising hopes of an interest rate cut in the US market – which could enhance Bitcoin’s price upswing – meaning that the year could end on a high.
Whilst the anticipated rise to $100,000 isn’t going to happen this year, there’s every chance that this hallowed figure could be achieved into the early part of 2025 and investors and experts are watching the markets carefully to see what happens next.
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