CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinGape 2024-12-25 12:40:02

Could Bitcoin Price Hit $250K in the Final Days of 2024?

Although Bitcoin (BTC) price has crashed 15% from its ATH of $108,421.80, can it hit $250K before 2024 ends? The answer to the question posed in the title is a clear and resounding “No.” Let’s explore why Bitcoin cannot rally 163% from $95K and hit $250,000 in the final days of 2024. Can Bitcoin Price Hit $250K in 2024? As mentioned above, BTC’s value cannot hit $250K in the final days of 2024. For Bitcoin price to achieve this target, it would need to gain 163% and that is highly unlikely. To provide context, Bitcoin’s year-to-date performance is 156%. Assuming that BTC would shoot up another 163% in just a week is highly unlikely. The demand for such a scenario does not exist in the crypto markets, or even if it did in the traditional markets, it would suddenly be redirected to BTC. Let’s explore a much more realistic outlook for Bitcoin. BTC Technical Analysis: How High Can Bitcoin Reach in 2024? As explained in a previous article Bitcoin is likely to rebound soon. On the four-hour chart, BTC created a local bottom on December 20 at $92,230, and since then it has set up a higher low of $92,465 and is currently showing strength. If the higher low is confirmed, it would suggest that the recovery rally has begun. In such a case, Bitcoin price prediction notes BTC’s next target would be the value area high (VAH) at $100K. However, if the momentum is strong during the festive season, BTC could flip the $100K hurdle into the support level and attempt to retest the 261,8% Fibonacci extension level at $115,881. This move would constitute a 20% rally, which is a considerable gain for BTC in the next week. In a highly bullish case, Bitcoin could hit $120K or $150K, which is the highest BTC could hit before 2024 ends, at least from a technical perspective. The second scenario includes Bitcoin sweeping the value area low (VAL) at $90.9K. Under these conditions as well, $116K to $120K is the highest BTC could reach before 2024 ends. BTC/USDT 4-hour chart On the other hand, a breakdown of $90.9K could trigger a steep 11% correction to the next support level at $81.1K. This move would increase the odds of a bear market for Bitcoin and the broader crypto market. The post Could Bitcoin Price Hit $250K in the Final Days of 2024? appeared first on CoinGape .

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения