Bitcoin Price Prediction - Odds In Favor of Bulls

HODL FM price prediction is in with another weekly assessment of Bitcoin and its future outlook. When we say we gotcha, we REALLY DO.

More: Bitcoin Price Analysis - How BTC Performed this Week?

What’s happening on Bitcoin?

• Bitcoin ETFs recorded outflows on Wednesday: Spot Bitcoin exchange-traded funds broke a 2-day positive streak of flows to post a $43.97 million outflows on Sep 10.
• BTC capital is shifting hands: Capital is flowing from short-term HODLers to long-term HODLers.

How will Bitcoin price perform in the upcoming days?

• Bearish short-term price forecast: Bitcoin price could reverse back to $53,000 before it can prepare for an explosive dash past the all time high.
• Bullish medium-term price forecast: We might see a retest of the ATH in the next 1 - 2 months before the end of the year.

What are experts saying about the price of Bitcoin?

• BTC will reach $200,000: Mike Alfred is so BULLISH, he believes BTC will reach $200,000.
• Bull market will come in Q4: After correctly forecasting 2021’s bull market, Dave the Wave hints Q4 as the best time for the bull cycle.

Bitcoin took a bit of a nap on Wednesday, sliding by 1.5% and settling at $56,500. The drop came after two major U.S. events that were supposed to shake things up.

First up, we had the Kamala vs. Trump showdown where somehow *nobody* thought it was worth talking about crypto regulation. Missed opportunity? Absolutely. 

Then came the  inflation report, where the U.S. Consumer Price Index (CPI) was as predictable as your Monday morning coffee order. The core rate spiced things up by rising more than economists expected, making it pretty clear the Fed is just going to tap the brakes with a 25 basis point rate cut next week. 

Usually, when the CPI report indicates that inflation’s worse than expected, the Fed's likely to hike rates. 

That makes borrowing tougher, so investors pull back from riskier assets like Bitcoin and stocks, running to the safety of bonds and the U.S. dollar. Despite Bitcoin’s "inflation hedge" reputation, it still gets treated like a gamble.

How will Bitcoin price perform in the short-term?

Onchain insights on CryptoQuant indicate capital is flowing from weak hands to long-term investors, while long-term investors calmly sip their coffee, steadily stacking sats like they’re building an empire. 

One group can’t decide if they want in or out, while the other is too busy planning for world domination with Bitcoin to notice the noise.

Usually, Long-term holders are quietly stacking, which could stabilize prices and set up a rebound, while short-term sellers keep adding some short-term drag on BTC.

Will Bitcoin’s price pump to $73,000 in the medium-term?

The 90-day decline in exchange spot volume suggests a shift away from short-term retail trading, with activity likely moving into wallets, signaling a focus on longer-term holding strategies.

In just the last two months, about 236,155 BTC have been yanked off crypto exchanges—yeah, that’s roughly $14.22 billion disappearing into cold storage.

All for safekeeping, in a ‘this is my money cause’ I got the keys’ vault.

Long-Term Bitcoin Price Prospects: Are We Entering the Supercycle? 

What is the Bitcoin supercycle? This is a theory that suggests Bitcoin price action will continue to rise indefinitely.

One of the crypto world’s favorite fortune-tellers—best known for predicting correctly the May 2021 market crash like a dart in a bullseye—has now shifted his crystal ball to Bitcoin’s Q4 performance for 2024. 

In his latest post, Dave the Wave  teased that we should expect Bitcoin price “fireworks” by year’s end. 

Let’s hope he means the good kind of fireworks and not the “your portfolio just exploded” kind.

During a recent chat with Scott Melker, Mike Alfred, a former tech CEO now turned  investor made a startling forecast, saying that if Bitcoin can claw its way back to $73K, it might rocket into price discovery mode.

He confidently declared that his "low-end" target for Bitcoin next year was a mere $100,000 to $120,000, you know, just some light pocket change. 

As for the high-end?  He said nothing major—just a cool $315,000. And, naturally, he added that there are some *really smart* people who think it could go even higher than that.

Besides, aiming beyond the moon is a thing now. 

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