Key Points
- Bitcoin is predicted to reach between $85,000-$100,000 in Q4 2024 due to growing demand and historical trends.
- Institutional interest and halving years have historically boosted Bitcoin’s value.
Bitcoin’s value could reach a significant milestone in the last quarter of 2024. It is anticipated that the cryptocurrency could surge to a new high between $85,000 and $100,000. This prediction is based on a combination of increasing demand, historical seasonal movements, and strong on-chain metrics.
Increasing Demand Fuels Bitcoin’s Potential
The current momentum of Bitcoin is a result of demand that has gradually built up throughout 2024. According to data from Cryptoquant, Bitcoin is approaching significant price levels where short-term traders usually tend to take profits after a rally. This suggests a potential profit-taking range between $85,000 and $100,000. However, overall market sentiment remains optimistic.
Institutional interests have significantly contributed to this price surge. Many market participants are beginning to see Bitcoin as a hedge against inflation and a safe asset in uncertain times. This demand could potentially push Bitcoin to reach $85k-100k by the end of Q4 2024.
Historical Halving Trends Indicate More Gains
Bitcoin’s performance in 2024 mirrors that of previous halving years. In 2012, the price appreciated by 9% in Q4, while in 2016, it increased by 59%. The most impressive year so far has been 2020, when Bitcoin rallied by 171%.
Being a halving year, 2024’s price movement puts Bitcoin in a position for a significant increase in Q4. This historical trend strongly supports the argument that Bitcoin could hit the range of $85,000-100,000, as its performance often peaks toward the end of the halving year.
As Bitcoin approaches the $85k–$100k price levels, many short-term traders tend to start cashing out after such rallies. While this could lead to some short-term volatility, it does not signal a long-term downtrend. In fact, it reflects a healthy market activity as long-term holders continue to apply upward pressure.
Considering the rising demand, strong on-chain metrics, and supportive historical patterns, Bitcoin is well-positioned for a move into the range between $85,000 and $100,000 by the end of Q4 2024.
