Q4 Bitcoin Surge Specialist Forecasts 100K Value by MidDecember
As we draw near to the final quarter of 2024, the future trajectory of Bitcoin’s price is filled with a blend of predictions. However, certain crucial factors could shape the course of Bitcoin in the upcoming months, and experts are offering their insights on potential outcomes.
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The Short-Term Impact of the U.S. Election on Bitcoin
One of the primary factors impacting Bitcoin’s price in Q4 is the U.S. presidential election. Some experts, such as Mark Yusko, speculate that a potential victory for Vice President Kamala Harris could have a short-term negative effect on Bitcoin.
In a conversation with Thinking Crypto, he expressed that if Harris emerges victorious and SEC Chairman Gary Gensler retains his position, there is a fear that stricter regulations could influence the market, leading to a decrease in price.
Long-Term Optimistic Outlook for Bitcoin
Conversely, Yusko indicates that from a long-term view, the outlook is more favorable. If the current administration continues its policy of money printing and deficit spending, Bitcoin could potentially profit. This is due to the potential devaluation of the U.S. dollar. As governments churn out more money, inflation escalates, and Bitcoin’s status as “digital gold” could drive prices up.
Bitcoin’s Parabolic Leap: Q4 2024 to Q2 2025
Looking forward to the next few months, Bitcoin is entering the concluding stages of its four-year cycle. Traditionally, Bitcoin witnesses a parabolic surge approximately 178 days after each halving event, which happened earlier this year. The upcoming phase of this cycle could witness significant price movement, especially as we approach the end of 2024.
Yusko anticipates that between now and mid-December, Bitcoin could hit new peaks, possibly breaking into the six-figure range, with prices between $110,000 and $120,000. This would represent a significant milestone for Bitcoin, particularly as institutional investors and Bitcoin ETFs (Exchange-Traded Funds) fuel the buying pressure. The holiday season often sparks increased interest in Bitcoin as family members and individuals discuss the asset, leading to increased demand.
However, the extent of any potential decline depends on how high Bitcoin soars in the short term. If Bitcoin surpasses prices of $150,000, a larger correction could follow, with Bitcoin potentially dipping as much as 60-80% in the subsequent bear cycle.
Bitcoin’s Fair Value and Market Cycles
Another crucial factor to consider is Bitcoin’s fair value. Yusko estimates that Bitcoin’s fair value is currently within the $80,000-$100,000 range. As the network expands and more institutional capital flows in, it is likely that Bitcoin’s fair value will rise. However, as Bitcoin’s price surges above its fair value, speculative buying could push the price even higher, followed by a correction once the market realizes that prices are detached from true value.
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