Analyst predicts growth of bitcoin and ethereum by the end of 2024

The author and host of the Crypto Jebb YouTube channel has studied the situation on the cryptocurrency market and published his own forecasts. According to the analyst, the bitcoin rate has broken through a critical support level and may grow significantly by the end of the year. Crypto Jebb is convinced that the main altcoin will face a similar scenario.

The researcher said that BTC $114,744.00 Mezo Wrapped BTC -0.10% Market capitalization $40.56 million VOL. 24 hours $1.66 billion quotes fell by 1% over the past day and by 7.9% over the past 7 days. At the same time, the ETH $4,150.51 Bridged Ether (StarkGate) -1.66% Market capitalization $97.04 million VOL. 24 hours $1.59 billion rate increased by 10.2% over the week. The expert predicted that it will reach $ 5000 by the end of 2024.

The expert noted that the bitcoin rate did not behave as most analysts expected. When it reached $ 49,000, traders assumed that it would jump to $ 55,000. However, the price dropped to $ 41,000 overnight. The correction occurred after the approval and launch of spot ETFs.

Crypto Jebb added that after the launch of similar products on gold, the precious metal’s price dropped by 10.95% within 70 days. In the case of bitcoin, the same dynamics is observed, but in a shorter time.

The researcher expressed confidence that BTC will trade at $ 100,000 between early August and early November 2024. In his opinion, after a small correction, bitcoin «will experience a serious rally and reach a price maximum by the end of Q2−3.»

As for other experts' opinions, Michael van de Poppe identified the current range for bitcoin. The analyst suggested that although it is possible for bitcoin to halve, buying when it falls below $ 41,000 seems to be a «reasonable strategy.» De Poppe expects that the volatility of the main cryptocurrency will precede bitcoin’s growth to the «impressive mark» of $ 300,000.