At the height of the Bitcoin (BTC) rally in the first quarter of the year, most models and forecasts point to the digital asset ending the year above $100,000. However, most experts and investors lost confidence in this prediction after Bitcoin’s market drop to bottom at $29,000. Latest developments and analysis for leading cryptocurrency cryptocoin.com we have compiled for you.
Experts are already predicting an explosive 4th quarter for Bitcoin
In recent weeks, Bitcoin has bounced back in the $45,000 to $48,000 range. According to crypto analyst John Kiguru, the $50,000 position is considered a crucial psychological position that could easily trigger the Fear of Missing Out (FOMO) and push BTC all the way to test its all-time high of $64,000.
Experts are already predicting an explosive fourth quarter. Decentrader analyst Filbfilb believes the next wave will push BTC above $85,000 and above $100,000:
So, with bullish signals in the near term, we could now be preparing for a big run that first pushes the BTC dollar to $85,000 before breaking the psychological barrier of $100,000.
The analyst also spoke of the risk of a downside move, noting that there is little that could trigger it other than a “major bad news event”. Believing that Bitcoin is still on its way in its bull cycle, Michaël van de Poppe reiterated that Bitcoin will rise as high as $300,000 in the near future.
What does the S2FX model predict for Bitcoin?
According to analyst John Kiguru, the Stock to Flow Model (S2FX model), which predicts the June-July decline, shows that Bitcoin gained about 30 percent from the current position, closing October at $63K and extending its gains further to close the year above $135K. . The analyst notes that historically, the model has proven to be efficient and owners will desperately hope it stays true.
A recent survey by S2FX model creator PlanB revealed that investors are overwhelmingly optimistic that Bitcoin will surpass $100,000. PlanB has raised the question of where Bitcoin will trade by Christmas. After more than 120,000 votes, about 41 percent voted that the asset would be over $100,000. About 32 percent expect the asset to be below this, while about 15 percent expect it to be above $288,000.
Altcoins to watch on BTC’s bullish path
According to crypto analyst John Kiguru, the broader market is likely to follow the bullish path opened by Bitcoin in the coming months. The analyst says he is preparing to lead altcoins, especially after some major developments in the network that saw Ethereum (ETH) become a favorite of not only individual investors but institutions as well, and shares his views on some altcoins:
It has been well established after months of bearish pressure due to the ongoing lawsuit by the SEC accusing Ripple of selling unregistered securities in the form of XRP. Many predict that a Ripple gain will be monumental and cause the asset to explode.
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