Bitcoin Price Predicted to Reach $100K-$115K in Late 2024 After Wave 4 Correction

Bitcoin's price is predicted to reach $100,000 to $115,000 in late 2024 after a wave 4 correction pattern and a retest of $60,000 in August. The next Bitcoin halving is scheduled to occur in 2024, reducing block rewards and influencing supply dynamics.

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Bitcoin Price Predicted to Reach $100K-$115K in Late 2024 After Wave 4 Correction

Bitcoin Price Predicted to Reach $100K-$115K in Late 2024 After Wave 4 Correction

Bitcoin's price is expected to soar to new heights in the latter half of 2024, with predictions suggesting it could reach between $100,000 and $115,000 in the September to November timeframe. This bullish forecast comes after a projected wave 4 correction pattern and a retest of the $60,000 level in August.

Why this matters: The potential surge in Bitcoin's price could have significant implications for the global financial market, potentially attracting more mainstream investors and further solidifying its position as a viable alternative to traditional currencies. Additionally, a price increase of this magnitude could also lead to increased adoption and integration of cryptocurrency in various industries.

The monthly predictions for 2024 paint a picture of Bitcoin's potential price trajectory. In May, the price is expected to start at $63,841, hitting a high of $67,906 and a low of $53,723, before closing at $58,029 with a 9.1% change. June sees a similar pattern, with the price starting at $58,029, reaching a high of $64,593 and a low of $51,463, and closing at $55,363 with a 4.6% change.

July and August are projected to be pivotal months, with the price starting at $55,363 in July, hitting a low of $47,212, and closing at $50,766 with an 8.3% change. August sees the price starting at $50,766, reaching a high of $61,476, and closing at $57,454 with a 13.2% change, setting the stage for the anticipated surge in the following months.

September marks the beginning of the predicted rally, with the price starting at $57,454, hitting a high of $71,312, and closing at $66,647 with a 16% change. October maintains this momentum, with the price starting at $66,647, reaching a high of $71,316, and closing at $66,650 with no change. November sees the price starting at $66,650, hitting a high of $80,343, and closing at $75,087 with a 12.7% change.

Bitcoin, the decentralized digital currency that has taken the world by storm since its launch in 2009, continues to captivate investors and enthusiasts alike. Its innovative blockchain technology, which records every transaction made using the currency, has revolutionized the financial landscape. With a capped total supply of 21 million coins and a divisibility down to 0.00000001 BTC (known as a satoshi), Bitcoin's scarcity and flexibility have contributed to its widespread adoption.

Several key events have marked Bitcoin's journey, including the first known transaction on May 22, 2010, dubbed Bitcoin Pizza Day, and the approval of the first Bitcoin futures-based ETF in October 2021. The cryptocurrency's high level of security, with transactions verified across a network of computers, and its accessibility to anyone with an internet connection using a public version of their key, have further solidified its position in the financial world.

As we look ahead, the next Bitcoin halving is scheduled to occur in 2024, which will reduce the block rewards and influence the supply dynamics of the cryptocurrency. This event, coupled with the approval of the first spot Bitcoin ETFs in January 2024, sets the stage for an exciting year in the world of digital assets.

The prediction of Bitcoin's price reaching $100,000 to $115,000 in late 2024 after a wave 4 correction pattern and a retest of $60,000 in August has captured the attention of the financial world. As the cryptocurrency continues to mature and gain mainstream acceptance, investors and enthusiasts eagerly await the unfolding of this potential milestone in Bitcoin's history.

Key Takeaways

  • Bitcoin's price predicted to reach $100,000-$115,000 in Sep-Nov 2024.
  • Price surge could attract mainstream investors and increase adoption.
  • 2024 predictions: May $63,841, Jun $58,029, Jul $50,766, Aug $57,454.
  • Next Bitcoin halving scheduled for 2024, reducing block rewards.
  • First spot Bitcoin ETFs approved in Jan 2024, influencing supply dynamics.