VanEck predicts record high for Bitcoin in late 2024

VanEck predicts Bitcoin will hit a new all-time high on Nov. 9, 2024, based on its observed three-year price cycle.

The statement was released at the Digital Asset Summit 2024 as this forecast is notably marked on the third anniversary of its previous record peak of $69,000.

VanEck’s prediction seems grounded in a pattern observed within Bitcoin’s historical price movements. The fund manager highlights a peculiar cyclical trend, noting that Bitcoin’s previous significant surge in November 2020 also occurred precisely three years following its substantial peak in November 2017. This observation suggests a triennial cycle of significant price movements for Bitcoin (BTC).

Image

Bitcoin cycle chart from Blockworks DASDespite VanEck’s prediction, it’s important to remember that the cryptocurrency market is notoriously volatile and influenced by many factors like regulation, technology changes, and investor behavior. This makes any prediction, even from established entities, uncertain.

As November 2024 nears, Bitcoin’s performance will be closely monitored to see if it follows the predicted pattern or diverges.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)