An analyst has projected that Bitcoin may reach a price range of $108,000 to $155,000 by the end of 2024, contingent on historical patterns repeating. James Van Straten discussed BTC's price trends across cycles, starting from its low after the FTX collapse in late 2022.
The analyst highlighted that Bitcoin's recent performance closely mirrors its behavior in past cycles. Historically, the asset has finished September higher and then surged towards its cyclical peak.
If Bitcoin mimics past cycles, it could see a significant rally, potentially reaching between $108,000 and $155,000. This would represent a 70% to 144% increase from the current price of $63,600.
Van Straten also pointed out that Tether's stablecoin USDT has reached a notable milestone, which may funnel capital into Bitcoin. This development indicates that there could be substantial investment in BTC.
