$BTC Good times don’t last forever.
Overall 2024 has been one of the most bullish years for Bitcoin in recent history. Beginning the year with the launch of the Bitcoin spot ETFs. Then the BTC halving occurred in April, and it has become a key topic in the US Presidential election. The price action has been just as bullish. Beginning the year at nearly $43k, and soaring to a new all-time high of $73k before now settling in a range near $60k.
This year was the first time in Bitcoin’s history that it had made a new all-time high before the Halving even took place. It appeared that the market was way ahead of schedule and this caused investors to be in a frenzy.
“If Bitcoin had already reached $73k before the halving even occurred, just how high could it go this cycle?”
The market started looking ahead and began making outlandish predictions. It was an everyday occurrence to see a crypto expert predicting that Bitcoin could reach several hundreds of thousands of dollars this cycle. Some were even predicting a price as high as $500k. Further out on the timeline, there were even those saying that Bitcoin could reach $1 million in a handful of years.
All of those predictions are possible, and I would argue will eventually happen on a long enough timeframe. But once again the market seems…
