Bitcoin’s price has seen a significant rally at the start of Q3, breaking the $70K mark after a lackluster second quarter. This surge from $60K has led many to believe that a long-term bull market is on the horizon. The anticipation of interest rate cuts in the US market is expected to further boost BTC’s price trend, with projections of reaching around $100,000 by September 2024.
Analysts point to the bullish momentum gained after the fourth Bitcoin Halving as a driving force behind the potential growth. Historical patterns suggest that Bitcoin could indeed hit the $100,000 milestone in the near future.
Well-known crypto analyst Kyle Chassé is optimistic about Bitcoin’s trajectory, predicting a $100,000 price target by September 2024. He believes that this milestone will open up the potential for significant price increases and urges investors to prepare for possible surges in mid-sized altcoins as well.
Chassé is also looking forward to the approval of spot Ethereum ETFs, which he believes will have a positive impact on the broader crypto market. The launch of such ETFs could attract institutional investment and drive up demand for Ethereum.
With Bitcoin’s recent bullish breakout, there is excitement about its future prospects. The successful breach of the $60K zone and the 50-day EMA indicate that BTC may continue to rise, building on the momentum from the weekend. The current price of Bitcoin stands at $62,983, with potential to reach $77,842 by the end of the month if it breaks through crucial resistance levels.
Looking ahead, the approval of ETH ETFs could attract more investors and funds into the market, potentially pushing Bitcoin’s price towards the $100,000 mark.