Is the End of Bitcoin’s Growth Near?
10x Research and its CEO Markus Thielen have recently taken a more cautious stance on Bitcoin (BTC), leading to a reassessment of the current market conditions.
In a market update released on December 29, 2024, the firm acknowledged Bitcoin’s resilience. However, certain technical indicators suggest that the market might be entering a new phase. Historical analysis of previous bull markets, such as those in 2017 and 2019, reveals a recurring trend: strong rallies at the start of the month followed by profit-taking towards the end.
Bearish Signal: The “Shooting Star” Pattern
In December 2024, a “shooting star” candlestick pattern was observed, characterized by a long upper wick and a small body. Historically, this pattern has indicated market peaks, as seen in December 2017 and November 2021. According to Thielen, this pattern signals weakening buying pressure and potential price reversals.
On December 16, 2024, Bitcoin reached a new all-time high of $108,364 before retreating to $92,000. Analysts consider the $90,000–$92,000 range critical. A breakdown below this zone could lead to significant declines.
The Bull Market Isn’t Over Yet
Despite these warning signs, Thielen and 10x Research argue that the current bull market isn’t definitively over yet. However, investors should prepare for increased volatility and sharp market swings that could define 2025.
Other Perspectives: Is the Bitcoin Rally 80% Complete?
According to other analysts, such as Crypto Birb from The Birb Nest, the Bitcoin bull market is already 80% complete. He predicts Bitcoin will peak at $225,000 by June 2025, with the “real altseason” starting after that peak.
Another analyst, Tutor, believes Bitcoin is in the final phase of its growth. He highlights that 2025 will challenge investors to balance emotions (holding BTC with hopes of a $1 million valuation) against rational decisions (securing profits based on chart indicators).
Risk vs. Reward in Uncertain Times
Analysts agree that effective risk management and disciplined strategies will be critical for navigating the shifting market. Investors must prepare for Bitcoin’s potential final rally while considering securing profits ahead of a possible downturn.
Ultimately, decisions made during these turbulent times will have lasting impacts on portfolios. Whether Bitcoin sees further growth or begins to decline, staying cautious and ready for any scenario will be essential for success.
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