---
title: "Bitcoin poised for surge, analysts expect new all-time high"
url: https://diffcoin.com/bitcoin-poised-for-surge-analysts-expect-new-all-time-high/
description: "Crypto analysts expect Bitcoin price to jump to a new all-time high as the risk-on sentiment continues"
published: 2024-09-28
updated: 2024-09-28
author: "Mila"
site: "Diffcoin"
---

# Bitcoin poised for surge, analysts expect new all-time high

Bitcoin price has done modestly well this week as it soared to $66,000, rising to its highest level since July 31.

## Bitcoin moves into bull market

Bitcoin (BTC) recovery coincided with the surge of the most risky assets like altcoins and equities. The Dow Jones and the S&P 500 index have jumped to a record high, while the Nasdaq 100 is a few points below its all-time high.

In a post on X.com, crypto analyst Miles Deutscher estimated that Bitcoin may continue rising in the near term, reaching a high of $81,000.

He argued that the S&P 500 index, which tracks the biggest American companies, was up by 9% above its highest level this year. As such, he told his 541,000 followers that the coin would hit $81,000 if it caught up with equities as it has done in the past.

> [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) could break ATHs way sooner than you think.
> 
> The S&P 500 is now sitting 9% above its yearly high.[$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw) is still lagging, 11% below its yearly high ($74k).
> 
> If BTC catches up to stocks (9% above yearly high) – this would imply a BTC price of $81,000.
> 
> The catchup begins. [pic.twitter.com/VqpZ7oOrGg](https://t.co/VqpZ7oOrGg)
> 
> — Miles Deutscher (@milesdeutscher) [September 28, 2024](https://twitter.com/milesdeutscher/status/1839934881251635415?ref_src=twsrc%5Etfw)

Other analysts are bullish on Bitcoin. In a recent note, analysts at BlackRock, the biggest asset manager in the world, referred to Bitcoin as a “unique diversifier” in a report on Sept. 17.

The New York-based firm argued that the top cryptocurrency was a unique asset that is uncorrelated with equities, especially in periods of elevated risks.

BlackRock has continued allocating Bitcoin in its balance sheet, a move that may inspire other firms to start buying.

Meanwhile, MicroStrategy has continued to accumulate Bitcoin. The firm’s founder, Michael Saylor, predicts that Bitcoin will rise to over $13 million by 2045. The company currently holds over 252,000 coins.

MC Consultunacy founder and self-proclaimed Bitcoin enthusiast Michael van de Poppe also noted that the coin would jump to between $90,000 and $100,000 by the end of the year. He cited the soaring global liquidity, which will increase as central banks slash interest rates.

> Gold continues to push higher, while Silver has reached the highest price level in a decade.
> 
> Global liquidity is significantly increasing and [#Altcoins](https://twitter.com/hashtag/Altcoins?src=hash&ref_src=twsrc%5Etfw) have barely started.
> 
> Before the end of the year, we’re likely seeing [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) trading between $90,000-100,000.
> 
> — Michaël van de Poppe (@CryptoMichNL) [September 26, 2024](https://twitter.com/CryptoMichNL/status/1839224262407893155?ref_src=twsrc%5Etfw)

Seasonality is also favoring Bitcoin in the near term. CoinGlass data shows that the average return in the fourth quarter is 88%, higher than the third quarter’s 6.3% and the second quarter’s 27%.

October and November are usually the best months for the coin.

![Bitcoin seasonality](https://crypto.news/app/uploads/2024/09/Bitcoin-Seasonality.jpeg)

Bitcoin performance by month | Source: CoinGlass

Polymarket traders are betting that the coin will jump to a new all-time high in 2024 — 63% odds.

## Bitcoin technicals

![Bitcoin price](https://crypto.news/app/uploads/2024/09/Bitcoin-Price-12.png)

Bitcoin price chart | Source: TradingView

The daily chart shows that Bitcoin has solid technicals. It has formed an inverse head and shoulders pattern, a popular bullish sign. It has also been forming a falling broadening wedge.

Bitcoin has avoided forming a death cross pattern, and has instead, moved above the 50-day and 200-day moving averages. The coin will need to move above the upper side of the wedge to continue the bullish trend and clear the year-to-date high of 73,777 to accelerate the recovery.

[Source link](https://crypto.news/bitcoin-could-surge-to-new-all-time-high-soon-analysts/)