⭐ Merited by JayJuanGee (1)
If the price of Bitcoin crosses $100K then its price will be likely to go up to $150K. After 2021, the Bitcoin price has been bearish for a long time, which is why bull market momentum will be more likely than any other year. We expect Bitcoin's ETFs trading approval and Bitcoin halving to accelerate bullish movement, which is why the upcoming Bitcoin bull market will be much stronger than other years. If the bull run is interrupted at the end of 2024, then the bull run can be expected in the first quarter of 2025. The bull run of 2024 and 2025 will certainly look different from other's. At the moment if the Bitcoin price rising interrupted in any way we will have to wait until the November US election.
We expected the bull run to happen on or just before the approval of the ETF, but the reverse was absolutely the case. We saw a price pump on the market when the news for the Bitcoin ETF to be approved became highly positive, and just after its approval, we saw some drops on the market, and Bitcoin has not reached the $70k level since that drop. With the way the market is going, if Bitcoin can cross down to $75k again before the year runs out, I think we can be sure of $80k also being secured, but $100k for 2024 is something I'm not certain about, but it can be possible in the 1st Quarter of 2025; it's just speculation anyway, and high hopes should not be put on them.
Sometimes moving up is always moving down. This is something that can be avoided even by Bitcoin. Bitcoin's all-time chart looks very bullish. But, I'm unsure we can easily break new ATH without major adoption. We need big news to cook the price and push anyone in the market to buy as many bitcoins as possible.
But I remind you that Bitcoin's price is also affected by various sentiments. Major bad news could crash the crypto market, and we may not see another bull run.
https://www.wsj.com/finance/currencies/federal-investigators-probe-cryptocurrency-firm-tether-a13804e5
A WSJ report on a US probe into Tether triggered Bitcoin prices to dump. But, after Tether CEO denies WSJ's report, the price is slowly recovering. And imagine if WSJ's report were true, the bullish trend may be delayed for the next year.
That's why i don't have a very high expectation for BTC to break a very high price coz there will always be a pullback. Surpassing 70k, then steadily trading between 70k - 80k range is good enough.