Bitcoin (BTC) price will exceed $200K in June 2024. If history repeats itself

2024 has already been amazing for the cryptocurrency market. Bitcoin hit an all-time high yesterday, increasing its value by more than 60% in two months.

Earlier, when the asset breached the ATH, the price tripled in the next three months. If something similar happens again, BTC could very well go into the six-figure price range.

Posting on the run 🤦🏻‍♂️

— Bitcoin Archive (@BTC_Archive) March 5, 2024

2021 was a big year for BTC as the asset jumped to $69,044 (according to CoinGecko) in November amid announcements around futures ETFs approved at the time.

However, the following year was completely different, with several industrial failures and bankruptcies as well as macroeconomic challenges such as war and inflation. Thus, BTC fell sharply and fell below $20,000 by the end of 2022.

Last year started on a positive note and things picked up when the world's largest asset manager – BlackRock – launched a Bitcoin ETF in June. Many other financial giants followed suit, and the sentiment regarding the approval of these products changed to “it's only a matter of time.”

BTC responded with a price increase and jumped above $40,000 in early 2024. Those financial products were approved in mid-January, leading to rapid volatility. However, the record-setting revenue eventually led to a sustained increase in the price of BTC.

This ended yesterday when the cryptocurrency broke the previous set of ATH in November 2021. With the upcoming halving scheduled to take place in just over a month, and after each of the previous BTC price moves, there is even more talk of the asset continuing. Increase in value.

If history repeats itself, as seen in the tweet above, Bitcoin could surpass $200,000 in June. If this happens, the market capitalization will reach $4 trillion, making BTC bigger than Microsoft and Apple (at current prices).