As we approach the end of 2024, the cryptocurrency market continues to captivate investorsâ attention with ambitious predictions for Bitcoin, peaking at a potential high of $749,000 by the fourth quarter of 2025. But what are these predictions based on and what signals is the market currently sending us? Letâs dive into a detailed analysis.
Current developments: between bullish impulses and expected corrections
The chart presented perfectly illustrates the wave structure observed so far, according to the principles of Elliott theory. Since the historic low of November 2022 (around $15,500), Bitcoin has started a bullish phase marked by five clear waves, culminating in the expected peak in March 2024.
We then went through a corrective phase in August 2024, which corresponds to a three-wave structure. This correction allowed the market to breathe and strengthen the support areas around the previous highs (2021/2024), aligned with the key levels of $62,000 and $70,000.
Since the August low, Bitcoin has been showing a new clear five-wave bullish impulse, en route to establishing a new short-term high. We are currently in the last phase of this impulse, marked by a significant advance, with Bitcoin price moving above $100,000.
What can we expect for 2025?
According to the analysis, once this short-term high is reached, Bitcoin could enter a new corrective phase (likely early 2025) to test the old highs as support areas. This move could cause a liquidation of late long positions, cleaning up the market and providing an opportunity for a rebound.
The projected structure shows that after this correction, Bitcoin could enter a powerful final bullish phase, driven by a surge in global liquidity in Q4 2025. This move would correspond to a large terminal wave, propelling Bitcoin to unprecedented levels, with an ambitious target at $749,000.
Key areas to watch
1. Major Support: The $62,000-$70,000 levels remain critical areas in case of a correction. A successful test of these levels could strengthen the bullish sentiment.
2. Intermediate Resistances: Before reaching $749,000, Bitcoin will have to break through several psychological levels, including $200,000, $300,000, and $500,000.
In Conclusion, Observe Caution and Opportunities
As Bitcoin looks set to explore new highs, it is important for investors to remain cautious. Corrections are natural and necessary in a healthy market. If you are considering investing, keep these principles in mind: donât chase the market, lock in your profits at every step, and stick to your risk management plan.
Bitcoin is a revolutionary asset, but its volatility remains a double-edged sword. Projections of $749,000 by the end of 2025 are intriguing, but they come with challenges. Take the time to understand the marketâs movements and let the opportunities present themselves to you.
"The future belongs to those who know how to analyze and wait."