Bitcoin Price Growth Poised for Q4 Breakout Amid Institutional Demand

Key points:

• As we approach the fourth quarter of 2024, analysts anticipate continued growth for bitcoin and the broader cryptocurrency sector, fueled by institutional adoption and more favorable market conditions.
• Key indicators suggest a potential price increase for Bitcoin in October, with expectations of a new range between $58,000 and $72,000, driven by institutional buying and an evolving regulatory landscape, an analyst said.

Analysts predict Bitcoin price growth in Q4 2024, driven by institutional adoption, macroeconomic shifts, and favorable market conditions, with targets reaching $72,000.

Bitcoin Price Growth in Q4 Driven by Institutional Adoption

They further expect Bitcoin to rise in price this quarter and estimate the prices anywhere between $58,000 and $72,000. According to Ryan Lee of Bitget, negative funding rates and the “extreme fear” index could be two key signals that mean Bitcoin can rebound.

Institutional buying is strong, with companies such as MicroStrategy buying more bitcoin. Net inflows into bitcoin ETFs also suggest positive sentiment in the market as investors hedge against uncertainty in the macroeconomic environment.

Read more: CryptoQuant Bitcoin Analysis Signals Potential for Further Gains

Macroeconomic Shifts and Institutional Support Fuel Bitcoin in Q4

These factors can further entrench support for price growth in Q4 through institutional adoption and macroeconomic factors. As sovereign balance sheets come under pressure, digital assets will thrive, says Gabriel Selby.

Besides Bitcoin momentum, other trends to follow through would be Ethereum’s Layer 2 scaling solutions and the tokenization of real-world assets. This can perhaps help create more crypto adoption across the board.