Where will the price of Bitcoin go?

We tell you what investors expect from BTC: what to prepare for this week, when the cryptocurrency can update its maximum and at what levels the coin risks meeting autumn.

What’s Happening With Bitcoin

Bitcoin started the new working week with a small correction after rising to a local maximum above $68,400. Bitcoin’s 24-hour minimum is $65,842, and its maximum is $68,480.

There are several reasons for Bitcoin’s growth. The cryptocurrency demonstrated positive dynamics in mid-July 2024 amid the unsuccessful assassination attempt on the main pro-cryptocurrency candidate Donald Trump. Also, the growth of the crypto market was facilitated by expectations of the approaching transition of the US Federal Reserve to lowering the key interest rate.

The new round of growth in the digital asset market is associated with the withdrawal of the current US President Joe Biden from the presidential race. The politician’s decision increased Trump’s already high chances of winning.

Bitcoin Forecast from Crypto Community Members

Many representatives of the crypto industry believe that Bitcoin, and then the entire market, will continue to grow. For example, a positive forecast supported by analyst Doctor Profit. In his opinion, BTC will trade above $70,000 in the near future. The analyst also predicted that Bitcoin will move towards updating the absolute maximum. Recall that the BTC peak was recorded on March 14, 2024 at $73,750. As of the time of writing the review, the coin is trading only 8% below the absolute maximum.

Also Doctor Profit warned crypto community members that this work week will be extremely volatile. The reason is that the market is waiting for the launch of spot Ethereum ETFs in the US and Trump’s speech at the Bitcoin 2024 conference.

MartyParty Analyst considersthat BTC is on the verge of active growth. In his opinion, the cryptocurrency chart shows a technical analysis figure called a “cup with a handle”. Breaking out of the figure, according to MartyParty, will open the way for the coin to grow above $120,000.

Positive Bitcoin Price Forecast also gave trader Titan of Crypto. He believes that the previous week’s close above $65,100 opens the way for the cryptocurrency to grow to levels above $100,000. Judging by the chart published by the trader, investors will be able to see Bitcoin at the designated height in the fall of 2024.

Technical Analyst Yoddha also waiting growth of BTC by autumn. In his opinion, investors will see Bitcoin above $100,000 by September.

With the view that BTC has growth ahead, agreed Rekt Capital analystAccording to his observations, the cryptocurrency is currently moving in accordance with the cyclical theory.

Bitcoin rally in the near future too waiting trader Mags. According to his calculations, the cryptocurrency will show positive dynamics until the end of 2024.

BTC’s Explosive Growth predicts and crypto investor Elja. In his opinion, the coin may begin to storm the $200,000 level by the end of the year. Elja believes that during the consolidation period, BTC has accumulated enough strength to demonstrate an active bullish impulse.

Similar Bitcoin forecast shared trader “Coosh” Alemzadeh. He sees potential for BTC to renew its all-time high in August, followed by explosive growth that could take the cryptocurrency to levels near $260,000.

Meanwhile, successful investors are buying bitcoin ahead of the expected growth. The activity of market participants drew attention Lookonchain analysts.

However, not everyone shares the investors’ optimism. For example, popular crypto trader Peter Brandt, who has repeatedly managed to correctly predict BTC movements, considersthat the cryptocurrency is moving in the body of a descending channel. He noted that many traders mistakenly believe that another figure is forming on the Bitcoin chart – a flag. If Brandt is right and BTC is moving in the body of a descending channel, the cryptocurrency risks continuing to decline.

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