Bitcoin (BTC) made headlines earlier this month by crossing the $100,000 mark for the first time in its history, a milestone that signifies a significant bullish phase in the 2024/2025 bull market. However, the rapid shift of investment from Bitcoin to large and mid-cap altcoins, in anticipation of a major altseason in 2025, has tempered the earlier positive sentiment towards Bitcoin.
Bitcoin’s Current Market Performance
Recently, Bitcoin has experienced a decline of over 14 percent within a two-week period, trading at approximately $93,300 as of Monday, December 30, during the mid-London session. This downturn is reflected in its daily chart performance, where Bitcoin has consistently closed below the 50-day Moving Average (MA), suggesting that short-term bearish trends are prevailing.
Midterm Targets for Bitcoin Price According to Brandt’s Analysis
Veteran trader Peter Brandt has identified a crucial point for Bitcoin, marking a potential pivot that could either lead to a surge towards $120,000 or a deeper correction towards support levels above $78,000. Brandt points out the possibility of Bitcoin forming a head and shoulders (H&S) pattern on the daily chart, indicating a potential downturn. On the optimistic side, he suggests the formation of a Hump Slump Bump Dump Pump (HSBDP) pattern, which could herald a bullish rebound.
The Current Market Picture
Despite Bitcoin’s short-term bearish outlook, institutional investors, including BlackRock’s IBIT and MicroStrategy Inc. (NASDAQ: MSTR), continue to accumulate Bitcoin aggressively. On-chain data from Coinglass reveals that Bitcoin’s supply on centralized exchanges has fallen to a multi-year low of approximately 2.24 million. Furthermore, US spot Bitcoin ETF issuers have reported a cumulative total net inflow of around $35.6 billion, bringing their total net assets to approximately $106.6 billion. However, the Bitcoin Futures Open Interest (OI) market has decreased by over $7 billion in recent weeks, hovering around $59 billion, indicating a growing apprehension of a possible midterm selloff.
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Frequently Asked Questions (FAQs)
How much will 1 Bitcoin be worth in 2025?
According to Coinpedia’s BTC price prediction, 1 Bitcoin could reach a peak of $169,046 in 2025.
How much will 1 Bitcoin be worth in 2030?
By 2030, Bitcoin’s price could surge to as high as $610,646.
What will Bitcoin be in 10 years?
Forecasting a 10-year outlook for a volatile asset like Bitcoin can be speculative. However, Bitcoin’s price is expected to surpass $600,000 by 2030. With increasing global adoption, Bitcoin could potentially be valued at 1 million dollars.
