{"id":573487,"date":"2024-02-06T01:00:11","date_gmt":"2024-02-06T01:00:11","guid":{"rendered":"https:\/\/wncen.com\/?p=573487"},"modified":"2024-02-05T17:07:44","modified_gmt":"2024-02-05T17:07:44","slug":"bitcoin-2024-forecast-analyst-predicts-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-2024-forecast-analyst-predicts-surge\/","title":{"rendered":"Bitcoin&#8217;s 2024 Forecast: Analyst Predicts $60,000 Surge Before Halving And New ATH By Q4"},"content":{"rendered":"<p>Kevin Svenson, a prominent crypto analyst, has recently <a href=\"https:\/\/twitter.com\/KevinSvenson_\/status\/80912411?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">shared<\/a> his 2024 price forecast for Bitcoin, providing a nuanced view of the expected trends in the coming months. Svenson&#8217;s analysis, which breaks down the year into distinct phases, offers a glimpse into the <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-280000-next-year-hedge-fund\/\" target=\"_blank\" rel=\"noopener \">possible highs<\/a> and lows that Bitcoin might experience.<\/p>\n<p>His predictions paint a picture of a year marked by significant volatility, a characteristic trait of the crypto market.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-280000-next-year-hedge-fund\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Price Will Skyrocket To $280,000 Next Year: Hedge Fund Manager<\/a><\/div>\n<h2>Analyst Projected Bitcoin Phases In 2024<\/h2>\n<p>Svenson&#8217;s forecast is split into four key phases: a rally leading up to the BTC halving event, a subsequent downturn in Q2, a recovery in Q3, and a potential all-time high (ATH) before the year&#8217;s end. This phased approach underscores the cyclical nature of BTC&#8217;s price movements, heavily influenced by its halving events.<\/p>\n<p>Notably, the Bitcoin halving, a process that reduces the reward for mining new blocks by half, effectively diminishing the new supply of Bitcoin, has historically been a key driver for <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-stuck-range-42250\/\" target=\"_blank\" rel=\"noopener \">price increases<\/a>.<\/p>\n<p>The upcoming BTC halving, projected by Svenson to occur later this year by April 15, 2024, is expected to be a significant catalyst for price movements. According to the analyst&#8217;s chart, BTC could witness a rally, pushing its price to around $60,000 before the halving event, followed by a pullback below the $47,500 region.<\/p>\n<figure style=\"width: 787px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GFi9bflWkAAtzbn?format=png&amp;name=900x900\" alt=\"Bitcoin price moves before and after halving \" width=\"787\" height=\"662\"><figcaption class=\"wp-caption-text\">Bitcoin price moves before and after halving, as projected by Kevin Svenson<\/figcaption><\/figure>\n<p>This pattern aligns with historical trends observed around previous Bitcoin halvings, where supply reduction typically leads to price increases, followed by corrections.<\/p>\n<p>After the Q2 dip, Svenson anticipates a recovery phase in Q3, where Bitcoin is expected to regain its lost ground and potentially set a new all-time high (ATH) by the end of 2024.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> | Halving Price Action Forecast<\/p>\n<p>\u25aa Pump into Halving<br \/>\n\u25aa Dump into Q2<br \/>\n\u25aa Pump into Q3<br \/>\n\u25aa ATH before EOY<\/p>\n<p>Things to keep in mind:<br \/>\n1.) Markets take time.<br \/>\n2.) Volatility is the name of the game. <a href=\"https:\/\/t.co\/5SgaFK2IHb\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/5SgaFK2IHb<\/a><\/p>\n<p>\u2014 Kevin Svenson (@KevinSvenson_) <a href=\"https:\/\/twitter.com\/KevinSvenson_\/status\/80912411?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">February 5, 2024<\/a><\/p><\/blockquote>\n<h2>BTC Current Trend And Potential Surge<\/h2>\n<p>Meanwhile, Bitcoin has fallen below the recently traded $43,000 mark. Though the asset is up 6.4% over the past two weeks, it has declined nearly <a href=\"https:\/\/wncen.com\/news\/bitcoin\/why-is-bitcoin-price-not-going-up-despite-etfs\/\" target=\"_blank\" rel=\"noopener \">1% in the past day<\/a>.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/onaPHTCO\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>BTC&#8217;s <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-buzz-accumulation-trend-peaks-at-a-3-year-high-whats-driving-the-surge\/\" target=\"_blank\" rel=\"noopener \">daily trading volume<\/a>, on the other hand, has jumped from below $10 billion to over $15 billion in the last few days.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-buzz-accumulation-trend-peaks-at-a-3-year-high-whats-driving-the-surge\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Buzz: Accumulation Trend Peaks At A 3-Year High \u2013 What\u2019s Driving The Surge?<\/a><\/div>\n<p>Micha\u00ebl van de Poppe, who heads MN Trading, <a href=\"https:\/\/wncen.com\/news\/the-50k-quest-bitcoin-oracles-pre-halving-proclamation-sparks-excitement\/\" target=\"_blank\" rel=\"noopener \">anticipates a period of consolidation<\/a> for Bitcoin in the forthcoming months. He suggests that the crypto&#8217;s value might oscillate between $ 48,000 and $50,000 as the halving event approaches.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">My general theory is that <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> is consolidating in the coming months.<\/p>\n<p>Pre-Halving a final run towards resistance at $48-50K, after that another correction to $36-38K and from there <a href=\"https:\/\/twitter.com\/hashtag\/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Altcoins<\/a> to continue outperforming Bitcoin. <a href=\"https:\/\/t.co\/sYiqpg3T93\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/sYiqpg3T93<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/86611710?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">February 3, 2024<\/a><\/p><\/blockquote>\n<p>Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kevin Svenson, a prominent crypto analyst, has recently shared his 2024 price forecast for Bitcoin, providing a nuanced view of the expected trends in the coming months. Svenson&#8217;s analysis, which breaks down the year into distinct phases, offers a glimpse into the possible highs and lows that Bitcoin might experience. His predictions paint a picture of a year marked by significant volatility, a characteristic trait of the crypto market. Related Reading: Bitcoin Price Will Skyrocket To $280,000 Next Year: Hedge Fund Manager Analyst Projected Bitcoin Phases In 2024 Svenson&#8217;s forecast is split into four key phases: a rally leading up to the BTC halving event, a subsequent downturn in Q2, a recovery in Q3, and a potential all-time high (ATH) before the year&#8217;s end. This phased approach underscores the cyclical nature of BTC&#8217;s price movements, heavily influenced by its halving events. Notably, the Bitcoin halving, a process that reduces the reward for mining new blocks by half, effectively diminishing the new supply of Bitcoin, has historically been a key driver for price increases. The upcoming BTC halving, projected by Svenson to occur later this year by April 15, 2024, is expected to be a significant catalyst for price movements. According to the analyst&#8217;s chart, BTC could witness a rally, pushing its price to around $60,000 before the halving event, followed by a pullback below the $47,500 region. This pattern aligns with historical trends observed around previous Bitcoin halvings, where supply reduction typically leads to price increases, followed by corrections. After the Q2 dip, Svenson anticipates a recovery phase in Q3, where Bitcoin is expected to regain its lost ground and potentially set a new all-time high (ATH) by the end of 2024. #Bitcoin | Halving Price Action Forecast \u25aa Pump into Halving \u25aa Dump into Q2 \u25aa Pump into Q3 \u25aa ATH before EOY Things to keep in mind: 1.) Markets take time. 2.) Volatility is the name of the game. pic.twitter.com\/5SgaFK2IHb \u2014 Kevin Svenson (@KevinSvenson_) February 5, 2024 BTC Current Trend And Potential Surge Meanwhile, Bitcoin has fallen below the recently traded $43,000 mark. Though the asset is up 6.4% over the past two weeks, it has declined nearly 1% in the past day. BTC&#8217;s daily trading volume, on the other hand, has jumped from below $10 billion to over $15 billion in the last few days. Related Reading: Bitcoin Buzz: Accumulation Trend Peaks At A 3-Year High \u2013 What\u2019s Driving The Surge? Micha\u00ebl van de Poppe, who heads MN Trading, anticipates a period of consolidation for Bitcoin in the forthcoming months. He suggests that the crypto&#8217;s value might oscillate between $ 48,000 and $50,000 as the halving event approaches. My general theory is that #Bitcoin is consolidating in the coming months. Pre-Halving a final run towards resistance at $48-50K, after that another correction to $36-38K and from there #Altcoins to continue outperforming Bitcoin. pic.twitter.com\/sYiqpg3T93 \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) February 3, 2024 Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":517328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84297,548,678,1119,78790,6664],"class_list":["post-573487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-ath","tag-bitcoin-forecast","tag-bitcoin-prediction","tag-btc","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin 2024 Forecast: Analyst Predicts $60,000 Surge Before Halving And New ATH By 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Edyme\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"caption\":\"Samuel Edyme\"},\"description\":\"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin&#8217;s 2024 Forecast: Analyst Predicts $60,000 Surge Before Halving And New ATH By Q4","url":"http:\/\/wncen.com\/news\/bitcoin-2024-forecast-analyst-predicts-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-2024-forecast-analyst-predicts-surge\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-1.jpg?fit=350%2C250"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin ath","bitcoin forecast","bitcoin prediction","btc","btcusdt","crypto"],"dateCreated":"2024-02-06T01:00:11Z","datePublished":"2024-02-06T01:00:11Z","dateModified":"2024-02-06T01:00:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin&#8217;s 2024 Forecast: Analyst Predicts $60,000 Surge Before Halving And New ATH By Q4\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-2024-forecast-analyst-predicts-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-2024-forecast-analyst-predicts-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-1.jpg?fit=350%2C250\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin ath\",\"bitcoin forecast\",\"bitcoin prediction\",\"btc\",\"btcusdt\",\"crypto\"],\"dateCreated\":\"2024-02-06T01:00:11Z\",\"datePublished\":\"2024-02-06T01:00:11Z\",\"dateModified\":\"2024-02-06T01:00:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-1.jpg?fit=350%2C250","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/573487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=573487"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/573487\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/517328"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=573487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=573487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=573487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}