A renowned cryptocurrency expert has made a bold prediction that Bitcoin's value will soar to unprecedented heights, reaching $100,000 by the fourth quarter of 2024. Despite potential price fluctuations and challenging bear scenarios, the analyst believes the current bull cycle is far from over.

According to Altcoin Sherpa, a prominent crypto analyst, Bitcoin's value could drop by up to 35% from its current price before reaching the six-figure mark. However, this downturn would be followed by a significant upswing, potentially leading to a market frenzy. The analyst envisions a scenario where Bitcoin's value plummets to $40,000-$50,000, followed by a period of stability and then a surge to $100,000 in the fourth quarter of 2024.

While the possibility of a price drop to $50,000 could result in a severe market reaction, with altcoins facing significant losses, the analyst believes that even a drop to $40,000-$50,000 would still be a high point in the market. The current price fluctuations could lead to larger downtrends and pullbacks, but the analyst remains optimistic about Bitcoin's potential for growth.

At the time of writing, Bitcoin was trading at $62,374, showing a slight increase over the past 24 hours. As the market continues to evolve, investors and analysts alike will be watching closely to see if Bitcoin can indeed reach the historic milestone of $100,000 by year-end.