According to BlockBeats, on October 3, CryptoQuant analysts said that Bitcoin is entering a positive seasonal phase, but increased demand is the key for BTC prices to reach $100,000 in the fourth quarter.
CryptoQuant analysts added that by 2024, Bitcoin’s performance will be similar to that of 2016 and 2020 through September.
CryptoQuant analysts said that institutional demand from U.S. Bitcoin exchange-traded funds (ETFs) is key to further growth in Bitcoin prices. If ETF demand continues to accelerate, it could drive prices higher in the last quarter of 2024. On-chain data valuation indicators suggest that Bitcoin may target a price range of $85,000-100,000 in the fourth quarter amid a recovery in demand and favorable seasonality.
