Originally published on: December 13, 2024
Bitcoin’s price has been experiencing sideways volatility but has managed to close daily candles above $95,000 since November 27, indicating strong buying pressure from investors. Despite short-term fluctuations, a consultant from Ernst and Young remains optimistic about Bitcoin’s long-term price trajectory for 2025.
Danny Marques, a Bitcoin mining industry researcher, recently conducted a study based on past bull cycles, post-halving performance, and Fibonacci extensions. His findings suggest that Bitcoin has historically reached key Fibonacci levels during each cycle, with the minimum target hitting the 1.618 FIB level. This analysis points to a minimum price target of $175,000 for Bitcoin in 2025.
Another study conducted by Cointelegraph in Q3 evaluated Bitcoin price targets for 2025-2026, predicting a minimum price of $199,998 and a more conservative upper range of $288,211. These projections align with the overall bullish sentiment surrounding Bitcoin’s future price movements.
Although Bitcoin recently crossed $100,000, there has been some profit-taking activity, with long-term holders selling around the $99,200 mark. However, On-Chain College suggests that miners are holding onto their BTC, signaling a shift from high-selling pressure to a more optimistic outlook.
From a technical perspective, Bitcoin’s price is expected to continue moving upwards, with immediate targets set between $115,000 and $126,500. As long as the price remains above $95,000 and $90,200, Bitcoin is poised to achieve higher prices by the end of 2024.
Independent crypto analyst, Titan of Crypto, foresees a rapid price movement for Bitcoin based on historical data and the recent breakout above the “power law corridor.” These indicators suggest a potential explosive upward move in Bitcoin’s price in the near future.
It’s important to note that this article does not provide investment advice and readers should conduct their own research before making any financial decisions. Stay updated on the latest trends and developments in the crypto market by subscribing to our Crypto Biz newsletter for valuable insights every Thursday.
