Bitcoin will end 2024 at $135,000

Bitcoin just hit a new record high of $97,836 minutes ago and is still well away from $100,000. This historic milestone could be reached this year as the leading cryptocurrency is attracting a lot of bullish sentiment. Buying pressure has increased sharply with both retail and institutional funds entering positions.

The rally has also been fueled by Trump’s cabinet picks, with the president-elect appointing  crypto-friendly lawmakers  to top financial positions. Elon Musk’s closeness to Trump is also fueling the crypto market’s rally. The rally has pushed Bitcoin and even Dogecoin higher up the charts this month.

Bitcoin to hit $135,000 by the end of 2024
Leading cryptocurrency analyst Ali Charts has predicted that Bitcoin will end 2024 trading at a high of $135,000. He shared a chart showing that BTC is repeating its 2020 performance and will only go higher from here. According to the forecast, BTC could hit $108,000 and then drop to $99,000.

After the drop, Bitcoin could immediately skyrocket on the charts and reach a high of $135,000 by the end of the year. That’s a gain and return on investment (ROI) of about 40% from the current price of $97,400. Therefore, a $10,000 investment could turn into $14,000 in the next six weeks if the forecast is correct.

“Bitcoin looks like December 2020. Even the RSI is almost identical. If that’s the case, $BTC will rally to $108,000, drop to $99,000, and bounce to $135,000,” he wrote on X.

The market is filled with optimism as investors believe that a Trump presidency could lead to economic prosperity. The America First strategy could boost the market as trade policies could be designed to benefit the United States. Trump also revealed that he plans to make the United States the Bitcoin and blockchain capital of the world. All of these developments serve as a bullish thesis for BTC and the cryptocurrency market in general.