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In December 2024, bitcoin experienced a slight decline of 2.4%, raising questions about the end of the bull market. Despite this drop, BTC remains a winning value for the year, with an increase of nearly 50% in the fourth quarter.
A moderate decline in December: Bitcoin remains resilient
Data shows that despite a sharp decline in recent days, bitcoin is still up compared to its opening level in December. This performance is considered average compared to historical standards. Trader and analyst Titan of Crypto highlighted the importance of an upward trend line that should remain in place as support. As long as BTC stays above this trend line, there is no reason to worry, he added.
Looking closer, some market participants are focusing on market behavior similar to last year, with bitcoin closely following a fractal pattern from the end of the fourth quarter. Trading account Nestay claimed that the entire year of 2024 has been a copy of 2023, with each structure in the sequence being replicated.
Can BTC rebound before 2025?
As with two previous market declines, bitcoin could reverse its downward trend once it reaches the realized price by the short-term investor group (STH). Currently close to $86,000, the realized price of STH reflects the aggregated price at which speculative investors in BTC reach breakeven. Any price drop above this STH is just noise, according to an analyst.
However, bitcoin could rebound before January 2025. Analysts forecast a possible rise, with predictions reaching up to $118,000, thus offering a glimmer of hope for investors for a Christmas rally.
In summary, although bitcoin experienced a slight decline in December 2024, it remains a safe bet that could reach $118,000 before 2025. Investors should therefore stay vigilant and monitor market trends to make informed decisions.
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Le monde évolue et l’adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m’intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l’optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
