Bitcoin (BTC) Close Price For 2024 Could Be $58,974, Cryptoquant CEO Predicts

With Bitcoin climbing higher and achieving bigger milestones triggered by a Trump win in the US Presidential elections, more and more traders expect the rally to continue and expand

Bitcoin price finally set its new all-time high and is currently trading around $75,995. As reported, the orange coin reached an ATH of over $77,200 on major spot exchanges.

However, Cryptoquant founder and CEO Ki Young Ju does not share the same view, and he has made a startling Bitcoin prediction.

In the latest X Post, Ki shared that the Bitcoin close price for 2024 could be $58,974, although he hopes that he is wrong.

This prediction comes as a surprise, especially considering that Bitcoin just posted an all-time high of over $77,200 on major spot exchanges.

Moreover, CryptoQuant CEO’s prediction marks an almost 24% drop for the orange coin.

As mentioned, Ki is running a forecast prediction for Cryptoquant paid users. He noted that the closest bet will be rewarded with 0.1 BTC, which is currently valued at $7,662.

With his X audience being more enthusiastic about Bitcoin prospects in late Q4, 2024, about half of the commentators made six-digit predictions.

Predicting Bitcoin’s performance in December is very a challenging task as, in the last 10 years, BTC has registered five “red” months and five “green” months, as per data from CoinGlass.

There was significant optimism in the Bitcoin (BTC) community last week after the election results and the much anticipated fed rate cut, that pushed Bitcoin to a new all-time high. This spike caught Bitcoin (BTC) bears unprepared.

In just three days they suffered a net liquidation of short positions equal to one-third of a billion dollars. For all cryptocurrencies combined, the metric exceeded $750 million.

Ali Martinez Eyes Correction

Prominent analyst Ali shared in a recent post that, while it could be just wishful thinking, he is also eyeing a correction to stack more Bitcoin.

“Looks like BTC broke down from a rising wedge, hinting at a target around $73,900. I’m also placing buy orders at $71,500 and $69,000 as a backup—let’s see where it goes,” he noted.

Maybe it’s just wishful thinking, but I'm really eyeing a correction to stack more #Bitcoin. Looks like $BTC broke down from a rising wedge, hinting at a target around $73,900. I’m also placing buy orders at $71,500 and $69,000 as backup – let’s see where it goes! pic.twitter.com/19TrlfnNTy

As for the altcoins, the analyst is bullish as he has recently shared that Notcoin broke out of the falling wedge, and its price is projected to increase 76% to $0.012.

He also noted that Dogwifhat appears to be breaking out of a bull flag, which projects a 20% price increase to $2.84.

Coming to Ethereum, the analyst expressed that “Ethereum at $3,000 today is just the beginning!”

#Dogwifhat $WIF appears to be breaking out of a bull flag, which projects a 20% price increase to $2.84! pic.twitter.com/8T37aMoC9L

What do you think? Are altcoins up for a major rally soon? Stay tuned

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