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Bitcoin (BTC) has seen tremendous volatility in 2023, rising sharply in June before falling 16% in the following weeks.

As the next halving approaches in 2024, one trader predicts that the world's largest cryptocurrency could reach a new all-time high before the event occurs.

With new altcoins like Bitcoin BSC (BTCBSC) also gaining momentum, the crypto market appears primed for an exciting few months ahead.

Bitcoin has begun picking up momentum in recent weeks, rebounding from the support level located at $25,000.

Since that rebound six days ago, BTC's value has risen nearly 6%, erasing most of the losses sustained in the ten days prior.

Now, Bitcoin is hovering around $26,710, having posted its first bullish weekly close since early August.

Price has climbed above the 20-day Exponential Moving Average (EMA) on the daily chart and appears to be heading for a test of the 50-day EMA in the coming days.

Additionally, the Crypto Fear & Greed Index has ascended to 46 significantly higher than its value last month.

These indicators suggest that investor sentiment regarding Bitcoin is turning positive once more.

If BTC can break above the 50-day EMA convincingly, it could pave the way for further upside in the near term.

According to prominent crypto analyst BitQuant, Bitcoin could be poised to reach a new all-time high before its next halving event in April 2024.

In a recent post on X, BitQuant stated that BTC will likely surpass its current record high of nearly $69,00rel="nofollow" 0 sometime in the next six months.

However, BitQuant believes that Bitcoin will not stop at this pre-halving peak instead, he predicts BTC will continue rallying after the halving and hit the $250,000 level later in 2024.

BitQuants bullish outlook aligns with historical price trends surrounding Bitcoin halving events.

The supply shock typically causes FOMO among investors, prompting increased demand (and price).

With the block reward set to be cut in half in just over six months, many investors (including BitQuant) believe scarcity could drive BTC well above its previous all-time high.

With Bitcoin gaining momentum, the stage may be set for a broader crypto market rally in the months ahead.

This presents an opportunity for investors to get in early on promising new projects with Bitcoin BSC emerging as one of the most notable contenders in the space.

Built as a BEP-20 token on the Binance Smart Chain, Bitcoin BSC (BTCBSC) aims to simulate Bitcoins original block rewards and distribution schedule.

However, instead of using energy-intensive mining, Bitcoin BSC uses a sustainable staking model to reward holders with BTCBSC tokens.

According to Bitcoin BSCs staking dashboard, over 1.3 million BTCBSC tokens have been staked already, with holders able to obtain estimated yields of 192% per year.

Bitcoin BSC's presale has already raised over $2.7 million towards its $3.96 million soft cap goal as hype begins to build around this innovative token.

The token has been featured in Cointelegraph, Yahoo Finance, and other major crypto news outlets signifying its growing recognition and potential.

With presale tokens priced at just $0.99, matching Bitcoins price in 2011, Bitcoin BSC looks to offer substantial upside potential if it sees even a fraction of the growth experienced by BTC.

Unsurprisingly, this unique setup has caught the attention of the crypto influencer community, with Jacob Bury stating he believes it could have 10x potential.

As an ambitious new project on the Binance Smart Chain, Bitcoin BSC checks all the boxes for crypto investors seeking exposure to a token with significant growth potential positioning it as one to watch in the remaining months of 2023.

Visit the Bitcoin BSC Presale

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This traders Bitcoin price prediction sees BTC hit a new ATH before 2024 halving, while BTC BSC token nears $3 million - FXStreet