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 .

阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约