As a seasoned crypto investor with a decade of experience in this wild and volatile market, I have learned to navigate through the turbulence with cautious optimism and a healthy dose of skepticism. The recent surge in Bitcoin‘s price has me intrigued yet wary, as it brings back memories of the 2017 bull run that left many investors rich… and many more broke.
However, the similarities between this year’s and last year’s price action are undeniable, and I can’t help but feel a sense of deja vu. The chart fractal, as Jelle so eloquently put it, is eerily reminiscent of the one that ultimately resolved to the upside in 2024. If history repeats itself, we could be looking at a trip to between $130,000 and $150,000 for BTC/USD.
I remember the days when Bitcoin was just a few hundred dollars, and it’s hard not to get swept away in the excitement of another potential bull run. But I also remember the pain of the bear market that followed, and the countless times Bitcoin dipped below its previous all-time high only to bounce back.
So, while I’m keeping a close eye on this developing trend, I won’t be throwing my life savings into Bitcoin just yet. I’ve learned to diversify my portfolio, to always do my own research, and to never invest more than I can afford to lose.
And as for the joke, well, let’s just say that if Bitcoin does hit $150,000 by Q1 2025, I’ll finally be able to afford that Lambo I’ve always wanted… or at least a really nice bike with a basket on the front.
On the first day of January 2025, Bitcoin (BTC) resumed its upward trend, with the price approaching approximately $95,000 before the opening of Wall Street stock markets.
$130,000 BTC price “feels inevitable”
The price of Bitcoin increased by approximately 1.5% according to data from CryptoMoon Markets Pro and TradingView, reaching a value of $95,880 on Bitstamp.
Or:
Today saw a 1.5% rise in Bitcoin’s price as per information from CryptoMoon Markets Pro and TradingView, pushing the BTC/USD exchange rate up to $95,880 on Bitstamp.
Or:
Investors observed a 1.5% increase in the value of Bitcoin today, according to data from CryptoMoon Markets Pro and TradingView. As a result, the BTC/USD rate climbed to $95,880 on Bitstamp.
Each sentence conveys the same information but offers a slightly different way to present it.
Initially dipping back to its monthly minimums at the beginning of the week, Bitcoin demonstrated resilience when a predicted more significant test of its support did not occur.
In a recent post on X, well-known trader Daan Crypto Trades stated that the Christmas Range has successfully cleared out liquidity on both market sides.
“Mid range at $95.8K has been acting as resistance on the most recent test.”
A graph included in the analysis demonstrated an uptick in trading volume at the minimum price points – a trend that emerged as multiple market indicators started leaning towards the bullish side.
As a crypto investor, I advise you to closely monitor when this price range is breached on either side. This could provide valuable insights into the direction of our investments in the coming 1-2 weeks.
Moving forward, fellow trader Jelle emphasized once more that the Bitcoin price trend in the current year bears striking resemblance to its pattern from last year. He pointed out these similarities as reminiscent of a chart pattern known as a fractal, suggesting that it could potentially end positively, as was the case before.
He contended that the resemblances exist, regardless of another survey or analysis of the troughs. This was a portion of his personal post on the platform.
“Comfy in spot, the next leg higher is right around the corner.”
Later on, Jelle foresaw that a journey might cost somewhere between $130,000 and $150,000 due to the upcoming surge.
Other market players shared the same perspective, maintaining confidence in the robustness of the Bitcoin rally even during the holiday downtime.
As an analyst, I find myself echoing the sentiments of entrepreneur and investor Jason Williams, who anticipates that Bitcoin (BTC/USD) could reach a fresh all-time high within this quarter.
“$BTC has re-entered the accumulation zone,” he told X followers on Dec. 30.
“In my view, a few weeks of consolidation could set the stage for a massive breakout. $131.5K+ by Q1 2025 feels inevitable. See you there.”
In simpler terms, Williams’ chart compared the current December range to the one observed following the previous record highs in March of last year. As previously reported by CryptoMoon, this period of sideways BTC pricing persisted for over seven months.
Bitcoin, crypto tipped for new year liquidity push
Similarly enthusiastic about the resurgence of traditional financial market participants (TradFi), Cole Kennelly, the founder of the crypto volatility index service Volmex, predicted a wider bullish recovery for high-risk investments as well.
In the latter part of December, there was a notable struggle, particularly following the adoption of a more aggressive monetary policy stance by the U.S. Federal Reserve after their recent reduction in interest rates.
Kennelly writes that his intuition points towards an increase in market risk and a surge of funds entering cryptocurrency, as the end-of-year logistics, rebalancing, and other related matters have been completed.
“Should be a big next two days.”
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2025-01-02 11:45