Bitcoin to Hit New All-Time Highs in 2024? Market Survey Says Sure

U.At the moment – With simply over two months till the tip of the 12 months 2024, many within the crypto neighborhood are nonetheless anticipating a brand new all-time excessive (ATH) for the largest cryptocurrency by market capitalization, , in response to a market survey.

Bitcoin reached an all-time excessive of about $74,000 in mid-March, pushed by expectations of robust demand from U.S. exchange-traded funds, which had been granted approval within the U.S. for the primary time in January. Regardless of the surge, many consider Bitcoin’s bullish run will not be over but.

In response to a latest survey, there stays a perception in the marketplace that Bitcoin would possibly surpass its earlier peak.

In a brand new tweet, crypto analyst Lark Davis, generally known as Cryptolark, has highlighted knowledge from Polymarket, indicating a 72% likelihood of Bitcoin reaching a brand new all-time excessive (ATH) in 2024.

Cryptolark shared this perception along with his followers, asking what their BTC value prediction for 2024 was. The expectation that Bitcoin would possibly hit new all-time highs in 2024 is supported by historic developments, with Bitcoin exhibiting optimistic returns in This fall throughout halving years.

Constructive returns in This fall? Will historical past repeat

CoinGlass knowledge exhibits that Bitcoin has all the time skilled robust fourth-quarter returns throughout halving years, with positive aspects of 58% and 168% in 2016 and 2020, respectively. Moreover, BTC’s value has proven optimistic returns in eight of the eleven years between 2013 and 2023, with a mean achieve of 88%.

If historical past is any indicator, there’s a 73% chance that Bitcoin will rally within the fourth quarter of 2024; nonetheless, whether or not this tendency will proceed is unknown.

Bitcoin, the biggest cryptocurrency by market capitalization, reached an almost three-month excessive of $68,399 in Wednesday’s buying and selling session, following three days of regular will increase earlier than dipping.

The cryptocurrency market is buying and selling within the pink as buyers anticipate new financial knowledge after Fed members’ newest feedback on the seemingly path ahead for rates of interest. On Thursday, the latest weekly jobless claims figures will probably be launched, in addition to September manufacturing and industrial manufacturing knowledge.

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