Bitcoin, Yet Again.
Just when we were expecting major corrections and pullbacks, BTC hit, and I believe it is now closer to 100k than any potential pullback below 90k. I believe a lot of people are waiting for 100k; it feels like a holy grail to some, but for people like us, it is when alts will start to do anything meaningful.
Although, before BTC hit 90k, Ethereum made a strong push to 3k, which we thought would be sustainable and possibly the start of something bigger, it wasn't. Eth is the gold standard when it comes to predicting altcoin movement, and since it has pretty much remain the same for over a week until a few hours ago.
If you understand anything, you will notice that this cycle's BTC movement has not pushed most alts, and I believe this is because altcoins are waiting for their turn; it is frustrating, but it is what it is. It is not yet 2025, but the sentiment is one of impatience and frustration.
Personally, I believe that altcoins will not move until January, because 2025 is the proper bull run year, and BTC's parabolic run is still ongoing. Those who predict that BTC will peak at $114,000 should reconsider, because BTC appears to be capable of much more.
Anyway, I do not doubt anyone who is overly pessimistic; the bear market has put a lot of numbers on us all, and it is much easier to make price predictions for where we believe the market will peak. Based on market movement, no one can predict what will happen between now and the end of the year.
We have often been proven wrong on the majority of our predictions, and to be honest, the only thing anyone can do is wait and see.
Although I know we have been predicting pullbacks, they do not appear to be happening on a large scale; for example, 96k back up 83k, with the alt taking a big hit as usual. But, somehow, I believe we will still have that pull back before the end of the year.
Is it going to be as massive? And does this mean we will not finish the year with 100k BTC?
It is possible.
At this point anything feels possible, but what doesn't look likely is BTC staying under 100k heading into 2025. It does not seem likely, but anything is possible.
For those who have wild predictions like 200k, I do not think it is as wild anymore, but I do believe that the top for BTC will be around 150 to 180k max, and I do not think it will go higher than that, but again, there is something about this cycle that looks so different that it is difficult to wrap your fingers around.
Again, I stand by my word that any alts' push this year will be unsustainable until it is time to moon hard, but we may see a strong finish to the year.
The purpose of this post is to highlight the fact that no one knows where Bitcoin is going or what it will do with altcoins. We already have an idea, but I have a feeling that there will be an element of surprise in this run, and no one knows where it will come from.
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200K may not be unreasonable! Sitting at 98.5K at the moment, I picked up a small amount last night right before the surge. We'll see if it was a good move or not! I think we're far from done, things could get very interesting very fast!
Yeah, 200k might not be unreasonable, but judging by the fact that BTC mostly does a x3 from its previous ATH at least for the past 3 cycles now. However, anything can happen because this cycle has been different in every way.
Greed in the market is very high right now, technical indicators and price action are all showing signs of imminent pullback, so it's a bit unpredictable how things will move because it seems market sentiment as we've seen in the past few weeks continues to override everything else. I don't want to get too greedy and not take enough profits before major pullbacks, but I also don't want to cash out early. I want to have my cake and eat it. Lol
If you're vested in alts then the real market is not even started yet, but if you're in meme, then you should probably be in profit and DCA
IF you're in BTC, then any profit is profit, and BTC might not go past 150k at the peak of the market anyway.
However, when BTC decides to correct, it'll take everything down with it. I think that correction is very soon
I don’t enter the meme market for the sake of my sanity, and frankly because I don’t understand it well enough.
I’ve exited most of the positions I was in, and am currently waiting for a correction to re-enter the market. I’ve left a fee positions running just in case the anticipated correction takes a while.
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I think top of this cycle would be 140k to 150k bitcoin and it will happen a few months after the start of 2025. Then we hopefully have a rotation into ETH and major alts with a quick altcoin blow off top then choppy for a little while before the next bear market hits end of 2025.
That is my prediction. It will probably be nothing like that :)
Haha I think it'll be something like this, and I tend to agree with you. The only difference is that I feel it might get up to 180k.
I agree it'll start a few months after the beginning of 2025. Let's see how it goes. Is this your first full crypto cycle?
Yes, you can say it is, because I came in during 2021.
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Hopefully in the next 4-6 hours BTC will scrape the 100k mark. A pullback is still possible if you analyze the daily weekly and monthly time charts. I suppose with all this wide adoption of crypto, especially because of Trump's triumph, will cause crazy price increases next year. I read about more and more companies buying BTC and countries preparing to use it for their strategic reserves or a hedge against inflation. I'm eagerly waiting so I can take profits. Thanks for writing.
Unfortunately, BTC hasn't hit 100k I'm suspecting it'll take a few days for it to happen, at least not now, but once it starts moving again, then surely
Anything is possible, but I still think that 100k is a huge barrier. Those large round numbers are where a ton of people are looking to take profits. So I am still a bit skeptical about it getting past there before the year is over.
Let's see how it goes. A month ago, no one was talking about 100k because of how uncertain it was, but now look. I think sentiment changes as the day goes by
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So in this case is the 150-180k range a thought for end of this year or the 2025? And would that mean selling bitcoin at that peak and buy again when it drops?
I know you highlighted the uncertainty too, but - I just quoted what is wishful for me and I promise I will consider the answer as as awareness and not a financial advice..😀.