Bitcoin Price Could Reach $150K by Year-End: Top Expert Unveils Conditions

A well-known crypto market analyst has predicted Bitcoin could hit $150,000 by the end of Q4.This optimistic forecast comes as Bitcoin recently dipped below the $61,000 mark, sparking hope for a significant rally.

The prediction, however, depends on certain conditions that market participants are watching closely.

Analyst Bold Predicts for Bitcoin

In an X post, crypto analyst Bob Loukas recently shared his belief that Bitcoin could reach $150,000 before the end of Q4.His forecast comes as Bitcoin struggles to stay above the $62,000 mark, having recently dipped below it amid broader market volatility.

According to Loukas, while the crypto market may be experiencing a temporary downturn, BTC is building momentum for a significant rally.

Loukas highlighted Bitcoin's price cycles, which typically span four years. He pointed out that Bitcoin is nearing the end of the second year of its current cycle and could enter a phase of significant price gains in the third year.

Historically, Bitcoin sees explosive growth during this period," Loukas noted. He also mentioned that Bitcoin has established a strong price foundation over the past eight months, resetting market sentiment and paving the way for potential growth.

He believes that easing interest rates and a solid market structure will support Bitcoin's rise to $150K by the end of Q4.

Other Experts Share Similar Optimism

Loukas isn't the only one forecasting significant gains for Bitcoin. Other market experts have echoed his bullish outlook.

Veteran trader Peter Brandt predicted that Bitcoin could rally to $135,000. A close below $48K negates my chart analysis," Brandt added.

Here is the macro picture of Bitcoin $BTC
Observations:
-Huge gains come in post-half of halving cycles
-Period since Mar 2024 appears as insignificant, brief pause in ongoing trend
-My target is $135,000 in Aug/Sep 2025
-Close below $48K negates my chart analysis pic.twitter.com/niptj2Umu7

- Peter Brandt (@PeterLBrandt) October 9, 2024

Matt Hougan, Chief Investment Officer at Bitwise, suggested that Bitcoin could hit $80,000 in the ongoing quarter. Hougan cited several factors that could support this rally, including the upcoming U.S. Presidential election.

CryptoQuant also reported that analyst Burak Kesmeci expects BTC to break past the $64,500 resistance level soon. However, he warned that if Bitcoin falls to $61,600, it could continue to trend downward.

The average cost of short-term #Bitcoin holders continues to play a critical role

These two levels are getting closer each day, and the direction of the break will be decisive.

We can roughly say that a close above 64.5K would give the bulls strength.

However, on the flip... pic.twitter.com/3gsV0F4FlT

- CryptoQuant.com (@cryptoquant_com) October 9, 2024

Market Outlook: What's Next for Bitcoin?

While these predictions are fueling excitement, the crypto market remains volatile. Despite the dip, trading volumes have risen slightly, signaling that market interest is still strong.

The bullish predictions reignite BTC investors' hope for a robust Q4 rally. But as always, the market is watching key levels closely. A break above $64,500 could trigger further gains, while a drop below $61,600 might indicate continued bearish pressure.

The analysis of Bitcoin's 4-hour chart reveals that the coin is trading near the lower Bollinger Band, suggesting that the asset is in oversold territory.

The Relative Strength Index is also at 30, another sign of possible overselling. The price could bounce back if Bitcoin maintains this level near the lower Bollinger Band and buyers step in.

Typically, when the RSI is low and the price is near the lower Bollinger Band, there's often a reversal as traders see a buying opportunity. However, if BTC fails to hold this level, the price could face further downward pressure.

This aligns with the earlier analysis from Bob Loukas, who noted that BTC could rally under favorable conditions.

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