Bitcoin (BTC) continues to circle its highest levels in 18 months and bullish BTC price predictions are flowing in — how high can the bull market go and how fast?
From a crash to $20,000 to six figures within months, there is plenty of variety when it comes to what Bitcoin might do next, with November traditionally one of its most volatile months.
The mood among crypto traders and analysts has improved over the past month after “Uptober” delivered nearly 30% BTC price gains.
Cointelegraph takes a look at five of the most popular targets for 2024 and beyond. Stock-to-Flow may not have come true — at least for now — but $250,000 is still on the radar.
Matrixport predicts $45,000 within two months
A lot can happen in Bitcoin within a short space of time, and with 2024 less than two months away, there is plenty of time for fresh BTC price volatility to take hold.
Before the yearly candle close, some say, BTC/USD will be higher than at present — to the tune of another 30%.
That prediction came from Matrixport, the cryptocurrency trading firm founded by Jihan Wu, himself co-founder of Bitcoin mining giant Bitmain.
Related: 4 signs Bitcoin is starting its next bull run
In a blog post in late October, Matrixport doubled down on a $45,000 year end price target which it originally revealed in January. It was based on a handful of in-house models, with Matrixport also successfully predicting Bitcoin’s October gains.
“Bitcoin is breaking above the July $31,500 resistance level, showing that $45,000 is achievable by year-end,” it summarized.
BTC/USD currently trades at around $34,500, per data from Cointelegraph Markets Pro and TradingView, meaning that the end-of-year level requires another 30% push.
BitQuant: New all-time high pre-halving, $250,000 after
For many, the halving is a watershed moment in every Bitcoin price cycle — but one well-known commentator believes that new all-time highs will come even before then.
In September, BitQuant stated that BTC/USD would surpass its current $69,000 peak before April 2024.
He told X subscribers:
“No, Bitcoin is not going to top before the halving. Yes, it’s going to reach a new all-time high before the halving. No, BTC is not going to $160K because the magnitude of every pullback is large. This means it will peak after the halving, in 2024. And yes, the target price is around $250K.”
Both the all-time high and the…
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