Bitcoin’s Major Q4 Catalyst: New All-Time Highs Possible

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As Uptober kicks off with high expectations, market analysts are feeling extremely optimistic about the future trajectory of Bitcoin. In this context, a crypto strategist has pinpointed a significant driver that could push Bitcoin to achieve new all-time highs (ATHs) in the Fourth Quarter (Q4) of 2024.

Bitcoin Aims for New ATH in Q4

In recent days, Bitcoin has been performing exceptionally well, with its value surging towards the end of September after a prior dip. This bullish trend has echoed the forecasts of analysts as Bitcoin shows recent price trends.

According to data from CoinMarketCap, Bitcoin increased by approximately 1.03% in the last week, marking September with a strong finish. In light of this upward momentum, crypto analyst Eric Crown has predicted on X (formerly Twitter) that Bitcoin may reach new all-time highs in Q4.

Crown’s forecasts are grounded in the historical trends of Bitcoin, particularly emphasizing the months following September. He pointed out that historically, whenever Bitcoin wrapped up a positive September, it consistently experienced a bullish Q4.

Building on this pattern, Crown believes that Bitcoin finishing September in the green serves as a critical catalyst for a bullish surge. Accordingly, he estimates that the average ROI for Bitcoin in the current Q4 could approach 170.42%.

If several major “outliers” are excluded, a more conservative estimate of a 50% return may be more feasible. If we calculate Bitcoin’s projected values based on these anticipated returns, the cryptocurrency could soar to $173,344 with a 170.42% growth or reach $96,153 with a 50% gain.

While Crown maintains a generally optimistic stance regarding Bitcoin’s price trajectory, he has also noted in a more recent post that October typically experiences low momentum for Bitcoin in the first 10 days. This observation is supported by Bitcoin’s current market position, which has dipped 0.69% today, now trading at $63,976 as of this writing.

Considering this pattern, Crown forecasts that Bitcoin may face a price low at the start of the month, before embarking on its anticipated bullish climb towards new heights.

Analysts Anticipate Green Q4 for BTC

Crypto analyst Kaizen has highlighted that Bitcoin’s performance in October from 2013 to 2023 has recorded an 80% success rate. Additionally, the analyst has mentioned that during every US election year, Q4 has consistently been 100% positive. Furthermore, each year following a positive September, Bitcoin has always transitioned into a successful October.

Based on this recurring historical behavior, Kaizen suggests that this Q4 could be exceedingly favorable for Bitcoin. He emphasized that with 2024 being an election year and Bitcoin having recently ended September on a high note, the cryptocurrency might be poised for a significant rise.