Revealing Our Bitcoin 2024 Year-End Target

Author

Markus Thielen
February 01, 2024

👇1-10) A year ago, when Bitcoin was trading at 22,500, we set an ambitious 2023 year-end target of 45,000 – implying a +100% upside, a very controversial call. Throughout the year, we held firm to this target, which was well covered by the media (here, here, and here).

👇2-10) By December 8, when Bitcoin had almost reached 45,000, we called for a three-week consolidation period and expected a strong start in January 2024, followed by a corrective move lower to 36,000/38,000.

👇3-10) When Bitcoin reversed higher from 38,500 and traded at 40,100, we called again for a new rally. Today, Bitcoin trades at 43,000, and we have additional data points that give us the confidence to project our 2024 year-end target.

👇4-10) Data and quantitative analysis back up all our market calls. We run our models daily, on weekends and holidays, with no exceptions. We constantly have our fingers at the market's pulse – necessary to make our market calls.

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