Title: Bitcoin Analyst Predicts New All-Time High in Q4
Summary: Following the recent interest rate cut by the FED, Bitcoin and cryptocurrencies have experienced a resurgence in the global market. As gold prices reach record levels, crypto analysts are now predicting that Bitcoin will also reach a new all-time high (ATH). Markus Thielen, the founder and CEO of 10x Research, has shared his bullish prediction, stating that Bitcoin could follow the seasonal patterns of gold and potentially reach a new ATH by the end of the year.
Article:
The recent decision by the FED to cut interest rates by 50 basis points has not only revitalized the global market but also had a positive impact on Bitcoin and other cryptocurrencies. In the past two weeks, gold, which is considered Bitcoin’s strongest rival, has witnessed a more than 5 percent increase and reached a record-breaking price of $2,629 per ounce on September 23.
As gold continues to soar to new heights, crypto analysts are eagerly anticipating Bitcoin’s next move. Many believe that Bitcoin will follow in gold’s footsteps and achieve a new ATH. Among these analysts is Markus Thielen, the founder and CEO of 10x Research, who recently shared his optimistic prediction regarding Bitcoin’s performance.
According to Thielen, Bitcoin has the potential to mirror the seasonal patterns observed in gold, leading to an increase in value between October and March. Based on this analysis, Thielen confidently predicts that Bitcoin will reach a new ATH by the end of the year. In a note to investors, he stated, “Bitcoin’s 2024 performance once again followed seasonal patterns, just like in 2023. Therefore, investors should expect a major breakout in Q4 2024, potentially reaching new all-time highs.”
Currently, Bitcoin is trading at $63,594, maintaining its position after reaching levels of $64,700.
Please note that this article does not provide investment advice.
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