Crypto Jebb gave BTC and ETH rate forecast in 2024

The author and host of the YouTube channel Crypto Jebb under the name Christian studied the situation on the cryptocurrency market. He posted a new video where he noted that the Bitcoin (BTC) rate had broken through a critical support level. The specialist tried to predict when the value of the cryptocurrency will bounce up

The researcher said that, as of January 15, 2023, BTC is trading at $42,372. Quotes fell by 1% over the last 24 hours and have already lost 5.5% over the last 7 days. At the same time, the Ethereum (ETH) rate increased by 11% over the week. The expert predicted reaching the $5,000 mark by the end of 2024.

The specialist noted that the Bitcoin exchange rate did not behave as many expected. When it reached $49,000, traders assumed that there would be a further jump to $55,000. However, the price dropped to $41,000 per day. The correction occurred a short time after the approval and launch of spot ETFs.

Christian added that after the launch of similar products for gold, the price of the precious metal decreased by 10.95% within 70 days. This is a very significant movement for the global market. In the case of Bitcoin, the same dynamics are observed, but in a shorter period of time.

At the same time, the researcher expressed confidence that BTC will trade at $100,000 between the beginning of August and the beginning of November 2024. In his opinion, after a slight correction, Bitcoin “will experience a serious rally and reach a price maximum by the end of the 2-3 quarter.”

The fear and greed index dropped to 52, which may also indicate a price correction.

According to the trader, this could be good for the market as it would allow investors to buy more bitcoins at low prices. Altcoins are also expected to continue to rise in price amid the upcoming bull market. The author emphasized that when making trading decisions, one should take technical analysis seriously and constantly learn trading to obtain successful results.