The election fervor has subsided, returning to the essence of Bitcoin - Outlook for 2024!
The current price of Bitcoin is $76,588, up 0.78%.
When it comes to the exchange rate of Bitcoin against the US dollar, some jokingly call it 'the currency of criminals,' but that's just a joke. Looking back in history, Bitcoin peaked at $20,000 in 2017, and in 2021 it soared to $69,000, an increase of 245%.
Interestingly, both of these peaks occurred at the end of the year. In 2017 it was December, and in 2021 it was November. The subsequent bear markets also bottomed out at the end of the following year.
Now everyone is guessing whether Bitcoin can break through again in 2024, having already reached a high of $77,000, which is an 11.5% increase compared to the peak in 2021.
Some predict that a true historical high will occur in 2025, possibly reaching $180,000 or even $220,000, which is exciting to think about.
That said, Bitcoin's price always fluctuates the most at the end of the year, whether it's at a peak or a trough. From March to November this year, the price has hardly changed, only increasing by 4%, but there might be a surprise again at the end of the year.
The market still looks very strong. If Bitcoin can stabilize around $40,000, or even drop to $35,000/$36,000, then there might be a wave of long-term increases afterwards.
Trump has been elected, and the cryptocurrency community is very happy because he supports cryptocurrencies. Everyone hopes for a free market, free from cumbersome regulations. But the heat of the election only lasted a few days, and now it's time to return to rationality.
To be honest, the market volatility brought by news is always temporary; the long-term trend is really determined by the fundamentals and market cycles.
Looking at the current situation, it resembles 2021 a bit, with a double top formation. Do you think Bitcoin will soar all the way, or will it adjust first?
Recently, I plan to set up an ambush for a potential coin that is ready to explode; doubling it is quite simple. I am also preparing to find some potential coins to hold until the end of the year, with an expected potential of more than 10 times being feasible. If you want to keep up, leave a message, follow, like, and share for free.
