“Unlocking the true potential of digital currency, Bitcoin’s meteoric rise in 2024 could redefine financial landscapes, revolutionizing investment strategies and challenging traditional banking systems.”
Bitcoin has recently entered a bullish area on its chart, clearing important levels and invalidating a bearish pattern. This is a positive development for the cryptocurrency, and it suggests that Bitcoin could test its all-time highs in 2024.
In a previous research service, we highlighted the significance of September 9th, 2023, as a potential turning point for Bitcoin. We noted that the dominant rounded pattern in 2023 would be 75% complete by that date, and typically, these patterns resolve between 65% and 90% completion. We anticipated that the last quartile of the pattern would mark the start of a new trend.
Fast forward to today, and the chart we shared in our premium service has a very bullish character. Our forecast was for Bitcoin to break out in the first week of October, and it did so within the timeframe we predicted. Bitcoin not only broke through its bearish rounded pattern but also entered a bullish consolidation area.
The long-term chart of Bitcoin has also improved considerably, and we believe that the cryptocurrency has a bullish outlook for 2024. We expect Bitcoin to move higher, potentially reaching levels of 46k and even 66k.
While Bitcoin has a positive setup, we believe that the real profits in 2024 will be made in the altcoin space. However, not all altcoins will perform well, as the market is hyper-bifurcated. Only select tokens will see significant gains. In our premium crypto research service, we have provided tips on specific altcoins that we believe have the potential for substantial growth.
Overall, we remain bullish on Bitcoin and the altcoin market for 2024. We have been providing crypto research services since 2017 and continue to offer unique insights and timely alerts to our premium members.