As of the writing of this article, Bitcoin (BTC) 
$78,323 stands at $68,000, marking a promising day for altcoins. However, the ongoing question remains: will this positive trend continue? For nearly 250 days, cryptocurrencies have not yielded significant gains for traders. BTC has struggled to reach convincing all-time high (ATH) levels and has remained below $70,000, causing altcoins to consistently hit new lows. This begs the question: is the negative trend finally coming to an end?
Analyst Predictions for Cryptocurrency
Everyone is curious if BTC’s recent movement will pave the way for higher peaks. Cowen recently shared his predictions for the end of this year and 2025. According to him, by December, BTC dominance is expected to reach around 60%. While he did not specify a clear peak target, it is suggested that Cowen anticipates ongoing rises will likely lead to new all-time highs.
At the same time, a 60% increase in BTC dominance may not yield favorable results for altcoins.
“I still believe this is the most likely scenario.
BTC dominance will peak at ~60% between September and December 2024, then decline in 2025. Clearly, I don’t know the exact peak. However, especially while #ALT / #BTC pairs are still far from their lowest levels, the odds of surpassing 60% are higher than not reaching it.
In either case, the upward trend in BTC dominance should conclude by the end of the year (at the latest, the second week of January). 2025 should bring different market conditions due to potential interest rate cuts and the reintroduction of quantitative easing.”
Bitcoin and SUI Predictions
If we are to discuss price targets, Mister Crypto’s prediction for BTC by the end of October stands out. Historically, there is a rise in cryptocurrencies by the end of October, and given that many previous cycles tend to repeat bullish events within a few months, this scenario seems quite plausible.
Mister Crypto expects BTC to reach $80,000 before the end of October. The last analyst, TraderXO, shared a target of $0.65 for the popular altcoin SEI Coin, expecting a bounce to this level above $0.50.
