The post Analyst sets Bitcoin’s price for Q4 2024 appeared on BitcoinEthereumNews.com.

After Bitcoin (BTC) failed to hold its price above the $60,000 mark, a cryptocurrency analyst has maintained that the asset will likely reach new highs in the coming months. This projection comes after Bitcoin experienced a notable price consolidation, with analysts suggesting that it aligns with the post-halving movement before a possible rally. In this context, crypto trading expert Mikybull Crypto, in an X post on August 20, pointed out that Bitcoin is poised for another all-time high in the last quarter of the year. Notably, the analysis highlighted Bitcoin’s cyclical behavior, particularly its performance during the “Summer Phase” in previous years. Bitcoin price analysis chart. Source: TradingView Notably, Bitcoin’s price tends to consolidate or experience slight declines in these phases, as observed in both 2022 and 2023. However, these periods are typically followed by a sharp upward movement, which Mikybull Crypto suggests is about to occur again in 2024. The Bitcoin price projection shows a descending channel in the current phase, mirroring the pattern seen in previous years. This pattern, which has occurred after a bullish run, often precedes a significant breakout, setting the stage for a new all-time high. According to the analyst, investors should “ignore the summer phase” and instead focus on preparing for the upcoming rally. Notably, the current consolidation phase is a precursor to a major price movement that could catapult Bitcoin to new heights. The analyst’s prediction of a run to $95,000 and eventually $143,000 for the fourth quarter of 2024 suggests that Bitcoin could experience one of its most significant bull runs in recent history. Key Bitcoin prices to watch  In the near term, crypto trading expert Michaël van de Poppe, in another X post on August 20, suggested that Bitcoin has shown resilience by holding a crucial support level at $56,000, marking…

---

Filed under: News - @ August 21, 2024 10:26 am