• Blogs
  • Crypto Analyst Foresees 2024 ATH – Possible?
Crypto Analyst Foresees 2024 ATH – Possible?
TradeMarkets News

Crypto Analyst Foresees 2024 ATH – Possible?

Kevin Kelly, one of the Co-founders of Delphi Digital, a well-known research firm specializing in cryptocurrencies, shared intriguing perspectives on both Bitcoin and the broader crypto landscape. Kelly's insights shed light on the cyclical nature of the crypto market, and our current position within a nascent cycle, substantiated by market observations. Kelly expounds that the initiation of a crypto cycle is typically marked by Bitcoin achieving a fresh all-time high (ATH) valuation, succeeded by an ensuing 80% decline within the subsequent year. Following this, there emerges a span of two years characterized by a recuperation phase, paving the way for a bullish surge that propels Bitcoin toward another ATH. Drawing parallels between this market trajectory and conventional business cycles, Kelly underscores that pivotal junctures within the standard business cycle have historically offered favourable windows for amplifying one's exposure to risk assets, including Bitcoin. Grounded in historical patterns, there exists a credible prospect of Bitcoin reaching a novel ATH by the fourth quarter of 2024. It's important to acknowledge, however, that, akin to all projections, these forecasts bear certain inherent risk factors.

Primarily, Kelly anticipates the likelihood of a modest selling pressure or price consolidation within the BTC market in the near future, particularly in the wake of the robust recovery witnessed over the past nine months. Moreover, he underscores the potential scenarios of the business cycle either manifesting a deceptive end to its bearish phase, similar to the events in March 2020, or defying projected timelines by extending its bearish phase beyond expectations. Based on figures sourced from CoinMarketCap, Bitcoin is currently priced at approximately $29,333.89, reflecting a minor drop of 0.12% over the preceding day. Remarkably, the token's daily trading volume has surged by 26.38%, boasting a substantial value of $12.2 billion

Risk Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.86% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


This website uses cookies

This website uses cookies to ensure you get the best experience on our website.