Bitcoin is predicted to hit new all-time highs in 2024 based on historical trends.

From Investing.com

October 17, 2024 3:00 PM:

As 2024 draws closer, the crypto community is hopeful for a new all-time high for Bitcoin, which hit $74,000 in March. Analysts believe a bullish run may not be over, with a 72% chance of Bitcoin reaching a new ATH in 2024 based on Polymarket data shared by Cryptolark.

Historical trends show positive fourth-quarter returns for Bitcoin during halving years, with gains of 58% and 168% in 2016 and 2020, respectively. Data from CoinGlass indicates that Bitcoin has shown positive returns in eight out of eleven years between 2013 and 2023, with an average gain of 88%.

Bitcoin rose to a nearly three-month high of $68,399, but the cryptocurrency market is now in the red as investors await new economic data and guidance on interest rates from the Fed. Weekly jobless claims and September manufacturing data are anticipated, impacting market sentiment.

With a strong possibility of a Q4 rally based on historical patterns, Bitcoin remains near the top of the crypto market cap. Amid positive sentiment and market volatility, investors eagerly await key economic data releases to gauge market direction and sentiment for the leading cryptocurrency.

Read more at Investing.com: Bitcoin to Hit New All-Time Highs in 2024? Market Survey Says Yes By U.Today