Bitcoin surged above the $100K milestone this year for the first time, a historic event for the overall crypto industry. Just a few years back, the entire industry was shaken by the collapse of foundational institutions, such as Genesis, FTX, BlockFi, Celsius, Three Arrows, and Voyager, as well as the LUNA/UST digital assets, casting doubts over the future of the crypto industry.

However, the launch of spot Bitcoin ETFs in the US in January 2024 gave an accessible avenue for institutional and retail investors to gain exposure to Bitcoin without the complexities of direct ownership. This was followed by corporate accumulation led by MicroStrategy, Marathon Digital, Galaxy Digital Holdings, Tesla, Riot Platforms and others, leading to the surge in demand for Bitcoin.

Bitcoin’s fourth halving event fueled the ongoing rally, leading to a 50% reduction in supply inflation and an inherent increase in issuance scarcity. Political developments further shaped the industry with the victory of a crypto-friendly candidate Donald Trump, the resignation by SEC chair Gary Gensler, expectations of favorable regulations and looser monetary policy in the US and other large economies pushed BTC to a new highs.

With many of these factors expected to extend into 2025, technical analysis and expert insights support a bullish outlook for BTC, with price targets exceeding $200K by the end of next year.

Technical analysis: Bitcoin could exceed $240K
Looking at Bitcoin’s monthly chart below, Bitcoin’s price peaked between 518 and 549 days after each previous halving cycle. This is seen after the 2016 and 2020 halving, respectively. Assuming that history repeats, the next Bitcoin peak would likely occur after 518 days (September 2025) or 549 days (October 2025).

Moreover, when considering the peak of the previous halving, it is 3.51 times the other one: the 2021 peak was 3.51 times the 2017 peak. Assuming this theory plays out, the peak in 2025 would be 3.51 times that of 2021, which would give a price target of $242,190.

BTC/USD monthly chart

Another price projection would be given by CryptoQuant Bitcoin realized price bands, which is the average price at which all the Bitcoin in circulation has been transferred for the last time.

Historically, the price of Bitcoin has marketed a cycle top at ~4 times the realized price; this level represents the upper band (red dashed line). As of now, Bitcoin’s top price target is at $156K.

Bitcoin: Realized Price Bands chart. Source: CryptoQuant

Bitcoin: Realized Price Bands chart. Source: CryptoQuant

Lastly, FXStreet interviewed several experts and renowned people in the crypto communities. Their views about Bitcoin price projection for the end of 2024 and 2025 are given below:

Macroeconomics factors and use case for Bitcoin
US macroeconomics also supported risky assets like Bitcoin in 2024. The US Federal Reserve announced a 50 basis point (bps) cut in interest rates in September, lowering borrowing costs for the first time in over four years (COVID-19 times). This big rate cut is considered a bullish sign for cryptocurrencies, stocks, and global risk markets.

Lower borrowing costs generally provide more purchasing power for investors, who would invest their money in assets rather than keep it in the bank. Thus, since the September rate cut, Bitcoin has rallied from $55K to more than $100K.

“Rate cuts are generally pretty good for the risk assets.[...]Trump is coming. Elon Musk is joining Trump in forming the government, so 2025 could be the year of crypto and we are witnessing history,” Arjun Vijay, Chief Operating Officer and founder at Indian crypto exchange Giottus, told FXStreet.

Additionally, this year, the Bitcoin network discovered a new use case with the introduction of the RUNES protocol, enabling the minting of tokens directly on the Bitcoin blockchain. By leveraging the OP_RETURN opcode to inscribe RUNES, the protocol unlocked a wave of innovation, resulting in an unprecedented surge in the use of OP_RETURN, with 81 million recorded throughout the year.

Bitcoin: OP Return Code Use chart. Source: CryptoQuant

Bitcoin becomes the best-performing asset of 2024
Bitcoin has emerged as a standout performer in 2024, overshadowing traditional asset classes such as Gold, equities, real estate, and bonds. The world’s most renowned cryptocurrency has extended prior year gains, boasting a 139% surge in 2024, contributing a substantial $2.1 trillion to its market capitalization.

Assets Class Total Returns chart. Source: Macrobond

Bitcoin’s fourth halving event
Bitcoin’s fourth halving event occurred in April 2024, leading to a 50% reduction in supply inflation and an inherent increase in issuance scarcity. The halving reduced block rewards from 6.25 BTC to 3.125 BTC, constraining new supply and fueling demand.

Bitcoin Halving Year and Reward chart

According to a Glassnode report, 19,687,500 BTC have been mined and issued in the Fourth Epoch, accounting for 93.75% of the terminal supply of 21 million BTC. Thus, there are only 1,312,500 BTC to be issued during the next 126 years, with 656,600 (3.125%) issued during our present Epoch. The report explains that each halving represents a point where:

The percent of supply remaining equals the new block subsidy (3.125 BTC/block vs 3.125% remaining).
50% of the remaining supply (1.3125M BTC) will be mined between the fourth and fifth halving.
Bitcoin: Percent of 21 Million Supply Mined chart. Source: Glassnode

Bitcoin: Percent of 21 Million Supply Mined chart. Source: Glassnode

Moreover, the block subsidy is halved every 210,000 blocks, and the inflation rate is also halved roughly every four years. This puts the new annualized inflation rate of the Bitcoin supply at a value of 0.85%, down from 1.7% in the prior Epoch.

The fourth halving also marks a significant milestone in comparing Bitcoin to Gold as, for the first time in history, Bitcoin’s steady-state issuance rate (0.83%) became lower than Gold (~2.3%), marking a historic handover in the title of the scarcest asset.

Bitcoin vs. Gold Inflation Rate chart. Source: Glassnode

Bitcoin vs. Gold Inflation Rate chart. Source: Glassnode

In an exclusive interview with FXStreet, market-making firm Auros Managing Director Le Shi said that, based on past trends, Bitcoin is “still relatively early on” in the bullish cycle compared to other years in which there has been a halving event.

“I can’t predict that timing, but there are plenty of reasons to be very bullish for the remainder of this year – the three weeks remaining – as well as going into 2025,” Le said.

Bitcoin Price Annual Forecast: 2025 outlook brightens on expectations of US pro-crypto policyCryptos | 12/19/2024 11:55:13 GMTBitcoin’s price has surged more than 140% in 2024, reaching the $100K milestone.The rally was driven by the launch of Bitcoin Spot ETFs and the reduced supply following the fourth halving event in 2024.The US presidential election victory of crypto-friendly candidate Donald Trump has further bolstered market sentiment for 2025.Technical analysis and expert insights within the crypto space support a bullish outlook for BTC, with price targets exceeding $200K by 2025.Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.The beginning of the interest-rate cutting cycle by the US Federal Reserve (Fed) in September, followed by the victory of crypto-friendly candidate Donald Trump in the US presidential election in November, added further momentum. Technical analysis and expert insights within the crypto space support a bullish outlook for BTC, with price targets exceeding $200K by 2025.Bitcoin in 2024: The year of the landmark $100KBitcoin price grew over 140% in 2024, reaching a new all-time high (ATH) of $108,353 in mid-December. This remarkable increase above the $100K threshold and surpassing a $2 trillion market capitalization was significant for Bitcoin and the entire crypto markets.Bitcoin’s institutional adoption: Rise of ETFs and corporations2024 was a defining year for Bitcoin’s institutional adoption, driven by the launch of Bitcoin spot ETFs in January. These ETFs have created a regulated and accessible avenue for institutional and retail investors to gain exposure to Bitcoin without the complexities of direct ownership

$BTC

Bitcoin in 2024: The year of the landmark $100K
Bitcoin price grew over 140% in 2024, reaching a new all-time high (ATH) of $108,353 in mid-December. This remarkable increase above the $100K threshold and surpassing a $2 trillion market capitalization was significant for Bitcoin and the entire crypto markets.
$BTC

Bitcoin Price Annual Forecast: 2025 outlook brightens on expectations of US pro-crypto policy
Cryptos | 12/19/2024 11:55:13 GMT
Bitcoin’s price has surged more than 140% in 2024, reaching the $100K milestone.
The rally was driven by the launch of Bitcoin Spot ETFs and the reduced supply following the fourth halving event in 2024.
The US presidential election victory of crypto-friendly candidate Donald Trump has further bolstered market sentiment for 2025.
Technical analysis and expert insights within the crypto space support a bullish outlook for BTC, with price targets exceeding $200K by 2025.
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.

The beginning of the interest-rate cutting cycle by the US Federal Reserve (Fed) in September, followed by the victory of crypto-friendly candidate Donald Trump in the US presidential election in November, added further momentum. Technical analysis and expert insights within the crypto space support a bullish outlook for BTC, with price targets exceeding $200K by 2025

Where next for Bitcoin?
Bitcoin trades in a rising channel, forming a series of higher highs and higher lows. The price has eased away from the 108k ATH, but the uptrend remains convincingly intact.

Buyers will look to extend gains towards 110k. Immediate support is at 104.4k, the December 5 high. A Break below here opens the door to the 100k psychological level. While a break below 95k could see sellers start to gain traction towards 90k.

BTCUSD

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Bitcoin pulls back from ATH – Will the Fed weigh on BTC further?
Cryptos | 12/18/2024 12:31:27 GMT
Bitcoin falls from 108k to 104.5k.

BTC pulls back as Polymarket BTC strategic reserve odds ease.

The Fed is expected to cut rates by 25 bps.

A more hawkish-sounding Fed could weigh on BTC near near-term.

Where next for BTC?

After rising to an all-time high of 108K, Bitcoin is retreating as the odds ease with the Bitcoin Strategic Reserve. Attention is now on the Federal Reserve interest rate decision.

Bitcoin is down 4% at the time of writing, trading at 104.5k—a 3.5k correction that could be considered healthy given the 14k rally over the past 7 days. According to Coinglass, Bitcoin’s market capitalization has eased to $2.06 trillion, and its dominance over altcoins is at 54%.

The correction in Bitcoin has also sparked a selloff in altcoins. Ethereum is down 3% at 3880, XRP has dropped 4.5% and Solana is struggling at $216. Deeper losses can be seen in ADA, TRX, SHIB, TON, and XLM. The cumulative crypto market capitalization rose to almost $4 trillion yesterday but has since dropped $150 billion to just under $3.850 trillion today.

Bitcoin Price Forecast: Bulls eye for $119,500 mark
Bitcoin price reached a new high of $107,793 on Monday after rallying over 3% in the previous week. As of Tuesday, it trades above $107,300.

If BTC continues the upward trend, it could extend the rally to test a new ATH of $119,510. This level aligns with the 141.4% Fibonacci extension drawn from the November 4 low of $66,835 to the December 5 high of $104,088.

The Relative Strength Index (RSI) on the daily chart reads 70.93, trading above the overbought level of 70 and points upwards, indicating strong bullish momentum. However, if the RSI retraces below the overbought level, traders should be cautious as the chances of a pullback increase. Additionally, the Moving Average Convergence Divergence (MACD) line on the daily chart shows a bullish crossover on Monday, suggesting an upward momentum.

BTC/USDT daily chart

However, if BTC faces a pullback and closes below $100,000, it could extend the decline to retest the $90,000 support level.

$BNB Binance Coin Gains Momentum: Can BNB Hit $400?
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Bitcoin Price Forecast: BTC extends upside above $107K as Microstratergy and Riot expand Bitcoin holdings
Cryptos | 12/17/2024 13:37:00 GMT
Bitcoin price today: $107,300
Bitcoin price trades above $107,300 on Tuesday after reaching a new high of $107,793 the previous day.
The recent rally in Bitcoin is supported by corporates like Microstragertgy and Riot platforms, which added more BTC to their holdings.
The technical outlook suggests a rally continuation, projecting a target of $119,500.
Bitcoin (BTC) price trades in green, trading above $107,000 on Tuesday after reaching a record level of $107,793 the previous day. The recent rally in BTC is supported by corporations like MicroStragerty and Riot Platforms, which added more BTC to their holdings. The technical outlook remains bullish, supporting the ongoing rally, and projects a target of $119,500.

Bitcoin bulls are attempting to push BTC price above teh $104,088 all-time high, and charts suggest ETH, LINK, AAVE and BGB will be the first to breakout.$BTC

Bitcoin
BTC
tickers down
$107,452
recovered sharply from the weekly lows and is charging toward the all-time high of $104,088. VanEck expects the cryptocurrency bull market to hit its first peak in the first quarter of 2025. After that, the asset manager anticipates a 30% pullback in Bitcoin and a sharper retracement of up to 60% in altcoins. The recovery is expected to begin in fall, with “major tokens regaining momentum and reclaiming previous all-time highs by the end of the year.”

Another bullish voice was that of Bitcoin mining industry researcher Danny Marques, who studied Bitcoin’s three previous bull cycles. Marques believes that Bitcoin could reach between $173,646 and $461,135 in 2025, barring any macro deterioration like 2020.

Bitcoin is not alone; analysts expect Ether
ETH
tickers down
$3,977.64
to play catch up in 2025. Bybit analysts told Cointelegraph that Ether is showing strength in the derivatives market and could hit “a new all-time high in Q1 2025.”

In the short term, if Bitcoin breaks and maintains above $104,088, select altcoins could charge higher. Let’s look at the top 5 cryptocurrencies with a strong chart structure.$BTC $AAVE $BGB $LINK $ETH

12.17 Big brother goes first, little brother follows
1. The leader BTC continues to reach new highs, the second ETH returns to 4000, while altcoins are in a state of fluctuation
2. BTC rises first, when it can't rise anymore, it enters a sideways consolidation, then altcoins surge, this pattern has occurred multiple times in the past two years
3. In the altcoin market, avoid MEME, SOL series, and inscriptions; these three categories are currently abandoned by capital. Even buying classical old coins like EOS and IOTA is better than these.