BTC Could Reach All-Time High In Q3 2024! – Veteran Trader

<p>&nbsp;"There are actually many analysts for their views on BTC, but don't worry about it."</p><p><br /></p><p>Peter Brandt, a veteran trader and analyst believes that the price of cryptocurrency king Bitcoin (BTC) will undergo volatile movements first before reaching an all-time high by the third quarter of 2024.</p><p><br /></p><p>However, Brandt who has been a proprietary trader since 1975 remained cautious as he said that the future of BTC is still unclear and the crypto market will always have surprises.</p><p><br /></p><p>After moving flat for a few months, BTC has recently managed to see a significant rally when there are rumors that a spot BTC ETF is likely to be approved soon.</p><p><br /></p><p><br /></p><p>On October 23, 2023, the BTC price broke through $35,000 as traders created a frenzy over BlackRock's iShares BTC ETF that was reportedly listed on the DTCC website.</p><p><br /></p><p>While approval of the spot BTC ETF is by no means guaranteed, leading Bloomberg ETF analysts James Seyffart and Eric Balchunas expect a 90% chance of the product being approved before January 10, 2024.</p><p><br /></p><p>While a senior executive from the global consulting firm Ernst &amp; Young named Paul Brody is of the opinion that BTC spot approval can encourage many more large institutions to buy a large amount of the digital asset.</p><p><br /></p><p>As of this writing, BTC price has plunged by 2.54% to $33,835 in the last 24 hours with a market cap of $660 billion but still posted an 18.12% jump over the last week.</p>