Bitcoin (BTC) may be preparing for recent all-time high (ATH) this year if it breaks through key resistance levels at $60,000. Despite experiencing significant price volatility and instability over the past few months, analysts express bullish optimism for cryptocurrency in the coming months.

Novel Bitcoin All-Time High Coming

Bitcoin price chart flashes bullish signals as cryptocurrency once again surpasses $60,000. Earlier this month Bitcoin has exceeded $60,000 but there was a slight correction that brought the price below $59,000.

As the cryptocurrency regains its previous momentum, many analysts expect greater gains in the future. WX (formerly Twitter) fasting On September 17, popular cryptocurrency analyst Michael van de Poppe suggested that as long as Bitcoin can maintain a steady price above $58,500, the market will remain robust and positive, signaling the possibility the beginning of a bull market.

Based on his bitcoin price action chart, the $58,500 level is considered a critical support area that needs to be held, and Poppe predicts that if bitcoin continues to trade above this level, it could trigger a massive rally the pump will reach recent record values ​​in October 2024.This significant price boost is expected to exceed Current Bitcoin ATHwhich exceeded USD 73,000 in March 2024.

At that time, the factor that made Bitcoin reach its ATH in March was Spot Bitcoin ETF launch and subsequent large-scale demand. This time, BTC is expected to reach a recent ATH, catalyzed by a confluence of factors, including the fact that Q4 of all Bitcoin Halving years are typical seen as a growth period for the cryptocurrency.

Before the attack on ATH in October, Poppe revealed that Bitcoin could experience a “liquidity flash” as well as a short-term consolidation period. The analyst emphasized that September remains an exceptionally feeble month for Bitcoin, which is characterized by price drop and variability.

However, he predicted that BTC could see a clear breakout above $62,000 by the end of the month or early October. At the time of writing, Bitcoin is trading at $60,471, which is a 3.76% price boost in the past 24 hours, according to CoinMarketCap.

The next three months are seen as a bullish period for BTC

Bitcoin has been in a downtrend for a long time, with Q3 being considered one of the most bearish periods of the year. Despite cryptocurrency price collapse and previously sustained declines, analysts say attraction that the coming months will be extremely bullish for cryptocurrency.

Cryptocurrency Analyst, Crypto Rover revealed on X that September was historically the worst month for Bitcoin, but believes that The fourth quarter looks like the best.

Other analysts such as Stockmoney Lizards provide Bitcoin is set to reach a target price of $100,000 by the end of the year, and expectations are that the fourth quarter (October to December) should significantly boost the value of the cryptocurrency.

Featured image created with Dall.E, chart from Tradingview.com