Will Bitcoin Price Hit $150K In Q4? Expert Reveals Key Conditions

Rupam Roy
October 10, 2024
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Bitcoin price

A top crypto market analyst recently hinted at a Bitcoin price rally to $150K, bolstering the market confidence. Meanwhile, the prediction comes as BTC fell below the $61K mark, noting a sharp decline amid a broader market downturn. However, this bullish forecast comes with some conditions, which have also gained notable attention from the market participants.

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Analyst Predicts Bitcoin Price To Hit $150K

In a recent analysis, Bob Loukas, a renowned crypto market analyst, shared an optimistic outlook for Bitcoin price. He believes the leading crypto could hit $150,000 during its current bull cycle.

Loukas’ comments come at a time when Bitcoin has struggled, experiencing a sharp decline alongside a broader market downturn. Besides, the market participants are also bracing for a potential crypto market crash ahead. Despite that, Loukas remains confident that BTC is on track for an explosive price movement.

Meanwhile, Loukas pointed out a specific pattern in BTC’s price cycles, which typically last four years. According to him, Bitcoin is about to complete the second year of its current cycle and will soon enter its third year, which is historically marked by significant price gains. He emphasized that BTC has built a solid price foundation over the last eight months, resetting market sentiment.

In addition, he added that easing interest rates further supports the possibility of a major rally. His analysis also highlights that this forecast aligns with the historical price behavior of Bitcoin, reinforcing market confidence.

Bitcoin Price Chart
Source: Bob Loukas, X
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What’s Next For BTC?

A flurry of crypto market experts have shared similar bullish forecasts for Bitcoin price. For instance, in a recent analysis, veteran crypto trader Peter Brandt predicts a BTC rally to $135K, which has sparked widespread discussion in the crypto market.

On the other hand, Bitwise CIO Matt Hougan noted that BTC could hit $80K in the ongoing quarter. He cited several reasons like the upcoming US Presidential election, Fed rate cut, and other reasons, that could support the BTC rally in the coming days.

In addition, CryptoQuant has recently cited a popular analyst Burak Kesmeci who said that BTC should cross the brief $64.5K mark to note further gains. Besides, he warned that if the crypto drops to the $61.6K mark, it could further fuel the bearish trend.

BTC Chart
Source: CryptoQuant, X

During writing, BTC price was down 2.3% to $60,975, with its trading volume slightly rising 1.6% to $27.71 billion. The crypto has touched a 24-hour high of $62,407.46 and a low of $60,314.22, indicating the volatile scenario in the market.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.