Bitcoin
Here’s When Bitcoin Price Will Hit $100K: Predictions and Important Events
In a highly anticipated fashion, Q3 opens with a breakout rally to breach $70K after a dull Q2. As Bitcoin surges from $60K, the market expects a long-term bull market. Growing hopes of interest rate cuts in the US market will drive the BTC price uptrend. Therefore, 2024 is highly anticipated to be a bullish year for Bitcoin, with a potential high of around $100,000 by September.
Many analysts believe that BTC’s price action has gradually gained bullish momentum following Bitcoin’s fourth halving. Historical patterns suggest that Bitcoin is poised for significant growth, potentially reaching the $100,000 mark.
As the bearish trend finally fades, Bitcoin’s latest bullish breakout has generated excitement. Find out what’s fueling this rally and what you can expect from Bitcoin and the broader crypto market in the coming months!
Bitcoin’s Path to $100,000: Kyle Chassé’s Bold Prediction
Kyle Chassé, a well-known cryptocurrency analyst, is optimistic about the future of Bitcoin. He believe We are nearly halfway through the current bull market and we predict that Bitcoin will hit $100,000 by September 2024. According to Chassé, this milestone will take Bitcoin into “MAJOR price discovery territory,” where there is the potential for significant price increases.
He also predicts that mid-sized altcoins could see impressive gains of 20 to 50 times their current values, urging investors to mentally prepare themselves for such potential surges.
Spot Ethereum ETF Approval: An Important Event Coming Soon
Chassé is also excited about the potential approval of a spot Ethereum ETF. He believes that such approval is imminent and will be a significant development for the entire cryptocurrency market. Launching such an ETF could boost the price of Ethereum by increasing institutional investment and market demand.
What’s next for Bitcoin?
While some predict that Bitcoin could reach $150,000 or even $1 million, Chassé says it will hit $100,000 by September. With the recent price action, Bitcoin is positioned for potential further gains. The successful break above the $60,000 zone and the 50-day EMA suggests that BTC could continue to rally, building on the weekend’s bullish momentum. Bitcoin price rose to $62,983, up 3.54% today, as it tested a crucial overhead trendline.
If Bitcoin breaks this trendline, it could reach $77,842 by the end of the month. However, if the price fails to break above the trendline, the key support levels to watch are $52,000 and $50,000.
Looking ahead, there is hope that the approval of the ETH ETF will attract more money and investors into the market, possibly pushing the price of BTC towards $100,000.