$BTC

Bitcoin continues to show strength here as many sit on the sidelines waiting for a pullback or the perfect setup. So why we patiently watch our trade play out, many others are still naysayer and when they jump in, well that's our time to exit stage right!

Not a lot to update as Bitcoin attempts to take out the 100k level. The question remains, how much more gas is in the tank before we get the next corrective cycle?

History shows that wave 5's are generally a very strong impulse move at the later stages of a rally. Going back to 2020-21 that final move was a 125%+- move from wave 4. The prior wave 5 minor in this current cycle's wave 3 was a 90% move.

So absolutely there is some room to run here and though my initial target is 130k I would not discount a move to potentially 150-170. From the naysayers you will here "It's too high can't buy the highs" which is about the stupidest thing to say. Of course there are the moon boys who will be calling for 250k but not getting tooo much hype yet.

As for the naysayers, often they will talk technicals and a lot of BS, but then not want to buy into a high. Why is that? I have no idea. Was NVDA too high at 100 after a 10 bagger? Was TSLA too high at 250? I don't get it?

In order for an equity to make a new high, it has to take out the old one. IF an equity is continuing to make high after high, well why wouldn't you buy that? I am not so sure this next corrective wave is going to be the typical 70-80% pullback, but can't discount it because history repeats.

However I am not sitting on the sidelines waiting. We are in and letting our trade play out.

If you are not in this move because of a trader's advice, well you may want to find a new trader to follow. This was a no brainer, even Jim Cramer was bull at 100k. Why? Because it simple, equities making new highs tend to make new highs. Don't be afraid to buy into a high if your equity is strong, after all Scared Money Don't Make Money!!

Not going to fill your head with a lot of BS technical jargon, Bitcoin is bull, the chart is Bull, you should be Bull! Your stop keeps your losses at bay, not staying out of the market. Sure you don't lose money watching Bitcoin rally, but you ain't making it either!
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$BTC

$BTC
On a 4H timeframe, bitcoin has broken out of the major resistance zone and somewhat retested it but...

This re-test seems rather weak, which also left a smaller CME gap with it near the zone.

We expect to see the re-test of that 100K zone, which would give us a proper understanding of whether we will go and expand further to new ATHs or we will go and take all the $ 13 billion of liquidity that is lying near $94-93K.

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Bitcoin's Bullish Run: Navigating Through Current Prices and Future Forecasts
$BTC

As we approach the end of 2024, Bitcoin (BTC) has once again captured the imagination of investors and crypto enthusiasts alike with its recent price surge. Breaking through psychological barriers, Bitcoin has now hit $107,000, marking a significant milestone in its volatile yet rewarding journey (). This surge can be attributed to several key influencers:
Institutional Adoption: The approval and subsequent trading of spot Bitcoin ETFs in the U.S. have seen massive inflows, with platforms like BlackRock and Fidelity recording billions in net inflows. This institutional backing has not only validated Bitcoin's role in the financial ecosystem but has also attracted significant capital, pushing the price upwards ().
Regulatory Landscapes: A more favorable regulatory environment, especially in the U.S., has contributed to the bullish sentiment. The approval of Bitcoin spot ETFs by major wirehouses and private banks is seen as a precursor to broader acceptance and integration into traditional finance ().
Post-Election Euphoria: With Donald Trump's election as the 47th President of the United States, known for his pro-crypto stance, there's been a noticeable uplift in the crypto markets, driving Bitcoin to new peaks ().
Price Predictions for Bitcoin
Looking ahead, experts and analysts have varied predictions, but the consensus leans towards an optimistic future for Bitcoin:
Short-Term Projections: Analysts like Anthony Scaramucci from SkyBridge Capital expect Bitcoin to peak at $170,000 within the next year, highlighting the ongoing growth cycle (). Michael Saylor of MicroStrategy anticipates a "supply shock" post-halving, which historically has led to price increases ().
Medium-Term Forecasts: For 2025, forecasts suggest Bitcoin might hover between $108,000 and $130,000, with a potential to touch $150,000 by the end of the year, driven by continued institutional interest and regulatory advancements ().
Long-Term Outlook: Predictions for 2030 vary widely, but some analysts see Bitcoin reaching between $238,152 and $610,646, with an average around $424,399 (). More ambitious forecasts, like those by Cathie Wood of Ark Invest, suggest Bitcoin could reach $1.48 million by 2030, based on extensive adoption and market cap scenarios relative to gold ().
Extreme Long-Term: Some predictions stretch into 2040, with Bitcoin potentially hitting the $1 million mark, although these are highly speculative and based on the cryptocurrency becoming a significant store of value globally ().
Market Analysis and Considerations
Volatility and Risks: Despite the bullish outlook, Bitcoin remains a highly volatile asset. Factors like sudden regulatory changes, macroeconomic shifts, or unexpected global events could lead to price corrections. Investors are advised to consider the historical volatility of Bitcoin and the potential for sharp price drops.
Adoption and Infrastructure: The growth in Bitcoin's infrastructure, including improvements in scalability, security, and usability, will play a crucial role in its price trajectory. The integration of Bitcoin into payment systems, both at retail and institutional levels, could further drive its value.
Global Economic Context: Bitcoin's price is often influenced by global economic health, inflation rates, and monetary policies. In times of economic uncertainty, Bitcoin has shown tendencies to act as a 'digital gold', potentially increasing its value.
Conclusion
Bitcoin's journey in 2024 has been nothing short of spectacular, with the cryptocurrency now at $107,000 and setting new all-time highs with significant institutional validation. While the future holds much promise, with predictions of substantial price appreciation, investors should approach with caution, understanding the inherent risks of cryptocurrency markets. The confluence of technological advancements, regulatory clarity, and macroeconomic conditions will ultimately dictate Bitcoin's path in the coming years. However, for now, the crypto king continues its reign, with eyes firmly set on new peaks.
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In the expansive world of cryptocurrencies, the stark contrast between Bitcoin (BTC) and Bitcoin Cash (BCH) in terms of market valuation has been a topic of intrigue and analysis. As of late 2024, Bitcoin has soared to an unprecedented $107,000 per coin, while Bitcoin Cash trades at a mere $541. This article delves into the reasons behind this significant disparity.
1. Market Perception and Brand Recognition
Bitcoin’s Dominance:
$BTC

First Mover Advantage: Bitcoin was the original cryptocurrency, introduced in 2009. Its pioneering status has garnered it unparalleled brand recognition and trust. The "Bitcoin" name itself has become synonymous with cryptocurrency, drawing investment and speculative interest.
Store of Value: Bitcoin has been increasingly perceived as 'digital gold,' a store of value in times of inflation or economic instability. This perception has been bolstered by endorsements from high-profile investors and institutions, driving its price to new heights.
Bitcoin Cash’s Position:
$BCH

Confusion and Identity: Bitcoin Cash, created in 2017 as a fork of Bitcoin, suffers from both brand confusion and identity issues. Many investors and new entrants to the crypto space might confuse BCH for BTC or view it as a less legitimate "Bitcoin".
Utility vs. Investment: While Bitcoin Cash aimed to be a more practical currency for daily transactions with its larger block size for quicker, cheaper transactions, it has struggled to gain the same investment fervour as Bitcoin, seen more as a utility token than an investment asset.
2. Adoption and Use Cases
Bitcoin’s Broad Adoption:
Institutional Investment: Bitcoin has seen massive inflows from institutional investors, particularly through Bitcoin ETFs, which have legitimized it in the eyes of traditional finance.
Global Recognition: Its use in various financial products, acceptance by major companies for payment, and integration into financial systems worldwide have cemented its status.
Bitcoin Cash’s Niche Adoption:
Limited Merchant Acceptance: Despite efforts, Bitcoin Cash hasn't achieved the same level of merchant adoption as Bitcoin. While it's used for payments in some contexts, its ecosystem is smaller, with fewer businesses accepting it.
Scalability Issues: Although designed to address Bitcoin's scalability, the expected widespread adoption for daily transactions hasn't materialized as hoped, partly due to market preference for other payment solutions or cryptocurrencies.
3. Supply and Demand Dynamics
Bitcoin’s Supply Shock:
Halving Effect: Bitcoin's halving events, which reduce the reward for mining new blocks by half every four years, create a supply shock, often leading to price increases due to the anticipated scarcity.
Bitcoin Cash’s Supply Dynamics:
Less Scarcity Perception: Bitcoin Cash's supply mechanics, while similar to Bitcoin, do not benefit from the same level of market anticipation or scarcity narrative. Its block reward halving occurs less frequently, and the supply isn't viewed with the same scarcity lens.
4. Network Security and Decentralization
Bitcoin’s Robust Security:
Mining Power: Bitcoin's network is secured by a vast amount of computational power, making it highly resistant to attacks and reinforcing trust in its stability.
Bitcoin Cash’s Security Concerns:
Lower Hash Rate: Bitcoin Cash has a significantly lower hash rate, which theoretically makes it more susceptible to attacks like 51% attacks, thus less secure in the eyes of investors.
5. Speculative Investment and Market Sentiment
Bitcoin as a Speculative Asset: Bitcoin benefits from a cycle of speculative investment, where its price is driven by market sentiment, news, and macroeconomic trends more than any other cryptocurrency.
Bitcoin Cash's Volatility: While Bitcoin Cash has its investors, the speculative interest is not as intense, partly due to its perceived role as a payment solution rather than a speculative asset.
Conclusion
The price gap between Bitcoin and Bitcoin Cash is fundamentally rooted in market psychology, brand strength, adoption rates, network security, and the narrative of scarcity versus utility. Bitcoin has carved out a unique position as both a speculative asset and a digital store of value, supported by a vast ecosystem and institutional backing. In contrast, Bitcoin Cash's focus on improving transaction speed and costs hasn't translated into the same level of market enthusiasm or investment. As the crypto landscape evolves, these dynamics might shift, but for now, Bitcoin's towering market cap and price reflect its status as the king of cryptocurrencies.

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