As Bitcoin gets closer to ATH in 2024, the best opportunities will be found among altcoins. A select few alts will do amazingly well.
RELATED – Analyst: Crypto Alt Season 2024 Is Starting This Week
Is it time to exit Bitcoin and related crypto positions?
Or is the ‘crypto party’ starting now?
Will Bitcoin outperform, and will it exceed ATH?
Will Bitcoin hit ATH in 2024?
Bitcoin is certainly set to rise, that is clear.
It certainly should not come as a surprise to readers of our blog since we wrote articles on this topic many months ago.
We asked how high BTC can go in 2024, and replied as follows:
Our base forecast for Bitcoin in 2024 is $45,600 with a bullish forecast being $66,000. We expect Bitcoin to move to all-time highs in 2025.
Moreover, we asked the question if BTC can go to $100,000 in 2024 or beyond. Our answer:
Bitcoin has the ability to rise beyond $100,000 in 2025 or 2026 after the ongoing multi-year W-reversal structure will be complete.
Now that’s exactly what we see on the Bitcoin chart – a multi-year reversal in the form of a W-structure.
Needless to say, this is a bullish structure.
We are not in the camp of BTC to $200k like some are claiming today:
$BTC [1M] has broken the 78.6% Fibonacci level for the first time ever pre-halving.
A pre-halving parabolic move to the $200k zone seems inevitable at this point. pic.twitter.com/i4jjlG0sHb
— Gert van Lagen (@GertvanLagen) February 14, 2024
When exactly will BTC hit ATH in 2024?
Our forecast is based on cycle analysis combined with price analysis.
The majority of analysts focus on price analysis.
We use the two axes of the chart for our forecasts.
- Price analysis: Visibly, BTC has a few more levels to hit before it gets extended. The 3 levels we could find from its chart structure are 52043, 57484, 63915.
- Time analysis: As per cycles, we believe that markets will set a top before the summer of 2024 starts.
So, if we combine time and price analysis, in order to answer the question “will BTC hit ATH in 2024“, we believe that BTC will do so in the period April/June somewhere.
‘What if’ BTC hits ATH in 2024?
Here it gets interesting.
The vast majority of investors are focused on ATH and higher prices. They forget that there is such a thing as a ‘turning point’.
We prefer to ask the question what happens if/when BTC will hit ATH.
The point is this: if ATH provide resistance, we should be taking profits, not staying invested.
That’s where the last chart, shown above, becomes interesting. This is how we read it:
- The red shaded area is important.
- It combines time and price readings.
- If BTC hits ATH before summer, it might turn lower. In doing so, it should flash a sell signal once it drops below the rising trendline (in the red box).
Investors should look in 2 directions – up and down.
While this article was focused on the question ‘will BTC hit ATH in 2024’, we also focused on the question when to expect a turning point. Both questions are equally important.
Looking for the outperformers in crypto markets in 2024, as BTC is starting its rise to ATH? We recommend to read our latest premium crypto alerts, that’s where you will find tips to spot outperformers.
