Recent analyses suggest that Bitcoin may be on the brink of significant growth, with forecasts predicting a price of $150,000 by October 2024.
Bitcoin Price Forecast
Analysts tracking historical halving cycles indicate that Bitcoin (BTC) could peak around $150,000 by October. The so-called 'tick-tock' fractal model shows that Bitcoin tends to reach a maximum approximately 518-546 days after each halving. The most recent halving occurred on April 15, 2024.
New Investor Activity
Data from CryptoQuant analyst indicates that new participants in the cryptocurrency market are gaining a larger stake. Young coins, representing recent buyers, account for 30% of overall market activity. This level is lower than previous peaks of 64% in March 2024 and 72% in December 2024, which coincided with local price tops.
Market and Long-Term Holders
Despite increased activity from new investors, long-term Bitcoin holders appear not to be rushing to sell. According to analyst Axel Adler Jr., 'old holders are still selling moderately,' allowing the market to maintain balance. This is also supported by ongoing institutional accumulation of Bitcoin, which helps keep the market structure healthy amid rising demand.
Under current conditions, the Bitcoin market appears balanced, with potential for further growth, possibly leading to new price peaks by October.
