Bitcoin’s been on a bit of a rollercoaster lately, but analysts are already looking ahead to 2025 and predicting some big things. Let’s dive into their forecasts.
Is the Correction Over?
Bitcoin recently dipped, but it’s been climbing back up, nearing the $100,000 mark. This recovery, according to some analysts, suggests the recent correction might be ending.
One analyst, Rekt Capital, points out that Bitcoin typically goes through a “parabolic upside phase” after each halving event – a period of roughly 300 days. This phase usually includes a correction, and Bitcoin’s recent dip fits the historical pattern. Rekt Capital believes that once this corrective period is over, Bitcoin is poised for a significant bull run.
However, the analyst also predicts that Bitcoin’s peak will likely happen this year, followed by a lengthy bear market in 2024, potentially dropping by 65-80%.
Q1 2024: A Bullish Outlook?
Another trader, Daan, sees things a little differently. He notes that Bitcoin has been trading around $100,000 for a while, creating a lot of “liquidity” – essentially, a lot of potential buying power. He believes breaking above $98,000 could trigger a significant price increase, potentially reaching all-time highs.
Daan also highlights the importance of the $95,000 support level. Holding this level is crucial for short-term growth. He expects a strong performance for Bitcoin and Ethereum (ETH) in Q1 2024, based on historical trends.
The Bottom Line
While the short-term outlook remains uncertain, many analysts believe Bitcoin is poised for significant growth in the coming years, even with a predicted bear market in 2024. The next few months will be key in determining the trajectory of Bitcoin’s price.
