It is anticipated that Bitcoin (BTC) could hit new annual highs in the next few days, eventually leading to a new ATH. Traders are keeping their long bets open as long-term forecasts remain exceedingly optimistic.
Volatility may soon increase as previously low volumes surge again. By the end of October or the beginning of November, the BTC price may have risen beyond $40,000.
Peter Brandt, a well-respected market expert, recently released bullish Bitcoin graphics that indicated the cryptocurrency would soon reach new all-time highs $70,000 (ATH).
“Anyone claiming to know the future path of any market can be wrong. Markets will always surprise. But with this disclaimer, I believe: 1. The bottom of BTC. 2. New ATHs will not come until the 3rd quarter of 2024. 4. Chop festival in the meantime. I have been using this plan for about 2 years.”
According to his analysis of Bitcoin’s history, the cryptocurrency will breach its long-term range in the second half of 2024 and achieve new highs in the third quarter of that year.
Brandt predicts that if Bitcoin can break decisively over the $32,000 barrier, it will soon have enough momentum to achieve the $40,000 target.
Back in 2013, he made the bold claim that Bitcoin will one day surpass all other cryptocurrencies in value. Brandt is certain that Bitcoin will surpass the value of any other cryptocurrency, real or imagined.
Peter Brandt concludes that Bitcoin will achieve an ATH of $70,000 in 2024, making it the dominant cryptocurrency. The price of bitcoin is hovering around the new high for 2023, which is set at $35,000.
As this is being written, Bitcoin is trading at a price not far off the new high for 2023, which is $35,000. Peter Brandt concludes that Bitcoin will overcome all other cryptocurrencies and become the leader in 2024 when it reaches an ATH of $70,000.
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