The FED’s 50 basis point interest rate cut decision has revitalized the global market as well as Bitcoin and cryptocurrencies.
Gold, which is seen as BTC’s strongest rival after the FED’s decision, has increased by more than 5 percent in the last two weeks and broke a record by reaching $2,629 per ounce on September 23.
As the gold price reaches its highest level ever, crypto analysts are expecting Bitcoin to break a new record as well and are sharing their predictions on when the new ATH could occur.
At this point, 10x Research founder and CEO Markus Thielen, who shared his bullish and ATH prediction, claimed that BTC would reach a new record level in the 4th quarter.
Stating that Bitcoin could follow the path of gold and live between October and March, Markus Thielen stated that the new ATH could come by the end of the year.
Stating that a new record high will be seen before the end of 2024, Thielen said in a note to investors:
“Bitcoin’s 2024 performance once again followed seasonal patterns, just like in 2023.
Therefore, investors should expect a major breakout in Q4 2024, potentially reaching new all-time highs.”
Bitcoin, which rose to levels of $64,700, continues to be traded at $63,594 at the time of writing.
*This is not investment advice.