Bitcoin’s price could reach an all-time high (ATH) before the 2024 halving, predicts BitQuant. However, the analysis makes even more shocking predictions for what will happen afterward.
Let’s take a closer look at this bullish forecast.
Bitcoin Analyst Predicts $250K ATH in The Next Bull Run
Renowned crypto analyst BitQuant recently took to X to predict that Bitcoin will make a new ATH before the 2024 Bitcoin halving.
This is against standard conventions since Bitcoin usually creates a new ATH months after the halving. That said, the analyst denotes a channel that Bitcoin began forming in 2017 and has not broken since.
The price breakdown notes that “Bitcoin is not going to top before the halving” but forecasts it will peak at $250K in 2024.
In other tweets, the analyst has explained the theory leading to the new ATH pre-halving theory. BitQuant also noted that “there is no argument indicating the channel might break in its 8th move, especially when it has had seven previous moves confirming its stability.”
BitQuant also pointed out a recurring chart pattern prevalent before each bull rally. The trader highlights a period of compression followed by a strong uptick. The analysis shows that we have just experienced this pattern, which also began in early October, historically a strong month for Bitcoin.
That said, not all analysts share BitQuant’s euphoric Bitcoin sentiment.
For instance, author and Bitcoin investment firm co-founder Jesse Myers dispelled the idea that Bitcoin could reach $100K pre-halving on X.
Instead, Myers holds the opinion shared by most analysts that Bitcoin will peak 12-18 months post-halving.
Crypto financial services platform Matrixport also opposes BitQuant’s prediction, predicting that Bitcoin could peak at $37K by the end of 2023.
This is still a notable gain from its current price of $26.9K but is a far cry from BitQuant’s $60K+ prediction.
Instead, Matrixport finds that investors could profit more in the Bitcoin mining industry. According to another report by the firm, investments in top 10 U.S. mining companies may outperform Bitcoin investments following the halving.
However, an easier and higher potential way to gain exposure to Bitcoin mining is through Bitcoin Minetrix, which recently launched a new presale.
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As such, Bitcoin Minetrix is a fast, secure, and convenient way to earn Bitcoin. Yet, the narrative building mostly is that the $BTCMTX token is about to explode.
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