Bitcoin on Track for $110K? Analysts Forecast a Q4 2024 Surge
Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.
Based on historical and technical patterns, a $110K Bitcoin remains a possibility. However, some analysts express concerns about a potential retracement to $40K beforehand.
In a September 1st X post, popular crypto analyst Titan of Crypto shared a bullish outlook, citing technical developments on the Bitcoin chart as grounds that $110,000 is “still in play.”
This optimism is largely based on the formation of a Cup and Handle pattern, which suggests that Bitcoin’s uptrend could continue despite its price lapse over the past few months.
If this pattern follows through, it forecasts a Bitcoin price target of around $110K, surpassing its previous all-time high of $73,750.07.
Notably, Titan of Crypto pointed to the final quarter of this year as a potential breakout point, describing it as having “epic” potential—a sentiment echoed by other analysts.
In an August 31st X post to his 683k followers, Elija Boom highlighted developments on the Bitcoin price chart that support the possibility of a new all-time high in Q4.
Elija pointed out the formation of a giant inverse head and shoulders pattern, suggesting that once fully developed, Bitcoin could “shoot above $100K.”
Adding to this optimism, historical patterns lend credibility to a Q4 breakout. In an August 21st X post, CryptoQuant CEO Ki Young Ju noted that past post-halving rallies have typically started in the fourth quarter of each halving year.
In the last #Bitcoin halving cycle, the bull rally began in Q4. Whales won't let Q4 be boring with a flat YoY performance. pic.twitter.com/LIWH53OpkD
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