Bitcoin may rise to $ 52,000 in 2024

One of the most prominent crypto analysts believes that bitcoin is preparing for a rally above $ 50,000, but that this growth will likely be followed by a long period of consolidation.

In a new strategy session, analyst Michael van de Poppe told his 162,000 YouTube subscribers that the flagship of the crypto market BTC $60,982.37 Bitcoin -2.55% Market capitalization $1.2 trillion VOL. 24 hours $1.36 billion will rise to $ 52,000 before the next drop.

De Poppe predicts that bitcoin will consolidate between a low of $ 38,000 and a high of $ 48,000 for most of 2024 before surging to a new all-time high in 2025.

Although Van de Poppe has a bullish outlook for BTC in the coming months, the analyst believes that the main crypto asset will face a long period of consolidation after the halving, when the coin will trade in a wide range without setting new all-time highs.

«There will be a rise before the halfway point of [у нас]. After that, there will be consolidation, and then we will just consolidate in the range until the end of the year. After that, we will start hitting historical highs and have a parabolic movement, which we compare to 2021 or 2017.

So at the moment, it seems that 2024 will probably not be the year when we break all-time highs," the crypto expert says.

At the time of writing, BTC is trading at $ 41,168. The total amount of coins circulating on the market is $ 805.7 billion. Traders made daily trading deals worth $ 18.9 billion. Bitcoin’s dominance in the market amounted to 51.8%.