Originally published on: December 13, 2024
The Bitcoin price has been exhibiting sideways volatility, but it has consistently closed daily candles above $95,000 since November 27. This trend indicates a sustained buying pressure from investors operating at a higher range.
According to Danny Marques, a Bitcoin mining industry researcher, the long-term price projection for Bitcoin in 2025 remains optimistic despite market fluctuations. Marques recently conducted a study based on the past three bull cycles, analyzing BTC’s post-halving performance and setting targets using Fibonacci extensions.
Marques revealed that based on historical data from the last three cycles, Bitcoin has consistently reached the 1.618 Fibonacci level as its minimum target during each cycle. This analysis suggests a potential minimum price target of $175,000 for Bitcoin by 2025.
Alternative research conducted earlier in the year also predicted a similar minimum price target of $199,998 for Bitcoin by the end of Q4 2025. However, the upper price range was estimated to be $288,211, slightly more conservative compared to Marques’ maximum target of $461,135.
Despite recent profit-taking activities following Bitcoin’s crossing of $100,000, there are positive indicators in the market. On-Chain data reveals that miners are holding onto their BTC, signaling confidence in the asset during 2024.
From a technical perspective, Bitcoin’s price is currently consolidating at a higher range, with immediate price targets set between $115,000 and $126,500. As long as Bitcoin holds above key support levels, further upside movement is expected before the end of 2024.
Analysts like Titan of Crypto also anticipate bullish momentum, noting that Bitcoin has broken above a critical resistance line on the “power law corridor.” Such breakouts historically precede significant upward price movements, indicating a potentially explosive rally in the near future.
It’s important to note that this article does not provide investment advice. Readers should conduct their own research and consult with financial advisors before making any investment decisions in the cryptocurrency market. Stay informed with our Crypto Biz newsletter for more insights and updates on blockchain and crypto business trends.