Bitcoin‘s journey in 2024 has been marked by significant milestones. January 10 witnessed the introduction of spot Bitcoin ETFs, which was soon followed by an unexpected all-time high (ATH) of $73,750. The first quarter closed with Bitcoin’s fourth halving event. However, despite these developments, Bitcoin’s price showed a notable decline. Whale investors continued accumulating, and analysts remained hopeful. Here is a detailed look at Bitcoin’s current scenario.
What Do Analysts Say?
August 4 was a particularly disastrous day for Bitcoin, plummeting to a periodic low of $48,800. Although the price briefly recovered to $65,000, it couldn’t sustain this level and continued to decline. Whale wallets, however, have shown positive activity. Recently, 1,700 BTC worth approximately $92.845 million were transferred from TronDAO to an unidentified wallet. Such movements could potentially influence supply pressure and lead to price increases. Access COINTURK FINANCE to get the latest financial and business news.
Renowned analyst Rekt Capital shared his perspective on the bull cycle on platform X. He highlighted historical patterns, noting that Bitcoin bottoms out a similar number of days before a halving as it peaks after. According to him, Bitcoin might peak around October 2025, aligning with historical trends that suggest the bull market isn’t over yet.
What is Bitcoin’s Current Value?
Recently, Bitcoin has shown a slight rise, now trading at $54,450 after a 0.60% increase. This uptick also increased market volume, keeping the total volume above the $1 trillion mark. However, the 24-hour trading volume has significantly declined by 64.7% to $16.3 billion. This decrease in trading volume indicates a reduction in investor interest, suggesting a more stable market environment.
Conclusions from Recent Developments
Drawing concrete conclusions from these events:
- Whale activity remains positive despite price fluctuations.
- Historical patterns suggest a potential peak date in October 2025.
- Market volume and trading activity indicate a calmer market phase.
Despite the current decline, Bitcoin’s market dynamics are influenced by significant whale activity and historical halving patterns. Analysts project optimistic timelines, pointing to potential peaks in late 2025. The market’s reduced trading volume hints at a stabilization phase, awaiting the next significant movement.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/analysts-foresee-bitcoins-peak-in-2025