Brief Bitcoin Price Projections

Numerous attempts have been made to anticipate the price movement of Bitcoin, yielding varying degrees of success.

A short while back, we compiled a roster detailing the top five prognostications regarding Bitcoin's price trajectory post-April 2023. However, subsequent to the compilation, additional predictions have emerged warranting attention.

Presented here are a couple of recently formulated forecasts regarding Bitcoin's price trajectory.

Anticipating a Fresh All-Time High for Bitcoin: When Will It Materialize?

The initial forecast hails from a prominent figure in the realm of social media, known by the pseudonym BitQuant.

BitQuant posited that Bitcoin's value will not peak prior to the halving event, but it is destined to scale to unprecedented heights, constituting a new all-time high.

The commentator expressed skepticism regarding the possibility of the price breaching the $160K mark, attributing this skepticism to the substantial magnitude of each retracement. In line with this, the zenith of Bitcoin's valuation is envisaged to manifest post-halving, around 2024, with a price target set at $250K.

Source: X 

Predicting Bitcoin's Short-Term Price Trajectory

The subsequent prediction emanated from a seasoned market analyst and co-founder of the esteemed cryptocurrency analytical platform - Glassnode.

He asserted that the recent market volatility stemmed from the unveiling of the US Consumer Price Index and underscored the presence of significant price levels on the horizon. Foremost among these impending levels is the $27K threshold.

Nonetheless, he expressed a prevailing sentiment that Bitcoin is most likely charting a course towards $30K:

The plunge of Risk Signal into the 60s signifies a perceptible shift in market sentiment. There may be mounting pressure for profit-taking around the $27.4K to $28.2K range. However, this ascent appears poised as a prelude to confronting the psychological barrier at $30K.

Source: X