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In December 2024, Bitcoin saw a slight decline of 2.4%, raising questions about the end of the bull market. Despite this decline, BTC remains the winner for the year with a nearly 50% increase in the fourth quarter.
Slight decline in December: Bitcoin remains resilient
The data shows that despite a sharp decline in recent days, Bitcoin is still up from its December opening level. This performance is considered average by historical standards. The Titan of Crypto trader and analyst emphasized the importance of the uptrend line, which should remain in place as support. As long as BTC remains above this trend line, there is no cause for concern, he added.
Looking closer, some market participants are targeting similar market behavior to last year, with Bitcoin closely following a fractal pattern since the end of the fourth quarter. The Nestay business account claimed that the entire year 2024 was a carbon copy of 2023, with every structure in sequence being replicated.
Can BTC Come Back Before 2025?
As in the two previous market declines, Bitcoin could reverse its downtrend once it reaches the price realized by the short-term investor group (STH). Currently near $86,000, STH’s realized price reflects the overall price at which speculative BTC investors are turning a profit. Any drop in price above this STH is just noise, according to one analyst.
However, Bitcoin could bounce back by January 2025. Analysts are predicting a possible rally, with predictions as high as $118,000, giving investors a glimmer of hope for a Santa rally.
In summary, although Bitcoin experienced a slight decline in December 2024, it remains a safe bet that could reach $118,000 before 2025. Therefore, investors must remain vigilant and monitor market trends to make informed decisions.
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The world is evolving and adaptation is the best weapon to survive in this wavy universe. Essentially a crypto community manager, I am interested in anything directly or indirectly related to blockchain and its derivatives. To share my experiences and raise awareness of a field that fascinates me, there is nothing better than writing articles that are both informative and relaxing.
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.