Here’s How Bitcoin Price Performed in Q4 – Will BTC Smash 100K Soon?

Bitcoin Price Outlook in Q4

Bitcoin has exhibited impressive performance in the fourth quarters (Q4) of recent years, surging by 61% in 2016 and 171% in 2020. With the current price hovering around $63.6k, analysts anticipate the possibility of another significant rally.

Analyst Predictions

Captain Faibik, a renowned crypto trader, suggests that Bitcoin may soon challenge the $68,000 resistance level, potentially leading to a breakout that could send BTC to $88,000-$90,000 by December.

Historical Data Projections

Based on historical data, Bitcoin's performance in Q4 2016 and 2020 could provide insights into potential outcomes in 2024. Using these figures as a basis, BTC could potentially reach approximately $102,454 or $172, 457, depending on whether the 61% or 171% increase is replicated.

Path to $100,000

As Faibik points out, Bitcoin is nearing the $68,000 resistance level, increasing the likelihood of surpassing $100,000. The removal of this resistance is crucial for sustaining its upward momentum. Additionally, Faibik identifies a widening wedge pattern, suggesting the potential for a breakout in the near future.

Market Sentiment and Predictions

Analyst Ali (@ali_charts) draws attention to Bitcoin's similar price behavior in previous bull runs, suggesting the possibility of history repeating itself. By mirroring patterns from 2016 and 2020, the sentiment towards a continued upward trajectory is strengthened.

While price predictions may vary, these observations from market analysts indicate a positive outlook for Bitcoin, with the potential to reach new highs before the end of the year. Some analysts speculate that the next target could be up to $90k, with the possibility of reaching $100,000.