$BTC Update: 12 Days Left to Close the Year!
Time is ticking, and we have just 12 days left to see how Bitcoin wraps up 2024. If the current trend continues, this could mark a historic first in halving cycles—Bitcoin failing to close all three months of Q4 in green.
For the first time ever, we might witness a red December and a red monthly close during a halving year.
What’s Happening?
After an impressive bullish rally and weeks of non-stop green candles, Bitcoin has finally printed a strong bearish engulfing weekly candle. Naturally, this has sparked fear among many BTC holders. Has the bull run come to an end? Or is this just a healthy correction?
While no one can predict the market with certainty, history suggests that low trading volumes during the holiday season can lead to price pullbacks. If this plays out, Bitcoin might retrace to the low $80K range in the short term.
The Bigger Picture
Despite the current pullback, Bitcoin’s long-term outlook remains bullish. The start of 2025 could see fresh momentum, with Bitcoin potentially targeting $120K within the first few weeks of the year.
What Are Your Thoughts?
Is this just a temporary cooldown, or are we in for a bigger shake-up? Share your predictions—where do you think Bitcoin will close the year, and what’s your target for 2025?