- Bitcoin could reach a milestone in the fourth quarter.
- The BTC price has risen by as much as 171% in recent years, and its 2024 trajectory reflects these patterns.
Bitcoin [BTC] is expected to reach new highs between $85,000 and $100,000 in the fourth quarter of 2024. Growing demand, historical seasonal movements, and on-chain metrics are driving this price march higher.
Historically, Bitcoin has done well during the halving years, and 2024 will be no exception.
Rising demand increases Bitcoin’s rally potential
Bitcoin’s current momentum is a result of demand that has gradually developed throughout the year 2024. According to the latest insights from Cryptoquant, statistics suggest that BTC is approaching significant price levels that short-term traders typically profit from after a rally.
A trend that points to potential profit taking between $85,000 and $100,000, but overall the market is optimistic.
Institutional interests have played a key role in this price increase. Most market participants increasingly view it as a hedge against inflation and as a safe asset in times of uncertainty. Such demand could very well push Bitcoin to $85,000-100,000 in the fourth quarter of 2024.
Source: CryptoQuant
Historical halving trends indicate more profits
So far, Bitcoin’s performance in 2024 is in line with previous halving years.
In 2012, the price rose 9% in the fourth quarter, while in 2016 it rose 59%. However, the best year yet was 2020, when Bitcoin rallied 171%.
Since 2024 is a half-year, this very move in the cryptocurrency’s price has positioned it for an explosive finish in the fourth quarter.
This historical trend strongly supports the argument that Bitcoin could reach the $85,000-100,000 mark as performance spikes several times towards the end of the half-year.
Source: CryptoQuant
Is Bitcoin Heading for a Milestone Move?
With Bitcoin approaching the $85,000 to $100,000 price level, most short-term traders tend to cash out after such rallies.
While this may indeed lead to some short-term volatility, it does not indicate a longer-term downward trend.
Read Bitcoin’s [BTC] Price forecast 2024–2025
In fact, this reflects healthy market activity as long-term holders continue to maintain upward pressure.
As rising demand, strong on-chain metrics, and supportive historical patterns converge. Bitcoin is positioned for a move to the $85,000 to $100,000 range by the end of the fourth quarter of 2024.
