A popular crypto analyst, Altcoin Sherpa, believes that Bitcoin’s bull run is not over and predicts a surge to $100,000 by the fourth quarter of 2024.
Potential Roadblocks
However, Sherpa warns of potential bear cases that could cause a 35% drop in Bitcoin’s value before the rally. He suggests that a move to $50,000 could trigger a significant market correction, including a 50% decline in altcoin prices.
Possible Scenario
Sherpa envisions a scenario where Bitcoin falls to $40,000-$50,000, followed by a period of consolidation for several months. This could then lead to a “giga send” to $100,000 in the fourth quarter of 2024.
Current Market Status
At the time of writing, Bitcoin is trading at $62,374, showing a slight increase over the past 24 hours.
