For the first time in its history, Bitcoin (BTC) surged past the $100k mark earlier this month, marking a significant bullish milestone in the 2024/2025 bull market. However, the rapid shift of crypto investments towards large and mid-cap altcoins, anticipating a massive altseason in 2025, has dampened Bitcoin’s earlier bullish momentum.
Over the past two weeks, Bitcoin has experienced a notable decline, dropping over 14 percent to trade at approximately $93.3k as of Monday, December 30, during the mid-London session. With Bitcoin’s daily price consistently closing below the 50 Moving Average (MA), it is evident that short-term bearish forces dominate the market.
Midterm Targets for Bitcoin Price According to Brandt’s Chart
Veteran trader Peter Brandt has pointed out that Bitcoin’s price is at a pivotal juncture, potentially heading towards a rally up to $120k or facing further corrections towards the support level above $78k. From a correction standpoint, Brandt suggests that Bitcoin’s price may be forming a possible head and shoulder (H&S) pattern on the daily chart.
Alternatively, on a bullish rebound, Brandt indicates that Bitcoin might be developing the renowned Hump Slump Bump Dump Pump (HSBDP) chart pattern.
Market Picture
Despite Bitcoin’s short-term bearish outlook, institutional investors, spearheaded by BlackRock’s IBIT and MicroStrategy Inc. (NASDAQ: MSTR), continue to aggressively accumulate more coins. On-chain data analysis from Coinglass reveals that the supply of Bitcoin on centralized exchanges has reached a multi-year low of approximately 2.24 million.
In the US, Bitcoin ETF issuers have reported a cumulative total net inflow of about $35.6 billion, currently holding total net assets of around $106.6 billion. However, the Bitcoin Futures Open Interest (OI) market has decreased by over $7 billion in recent weeks, hovering at about $59 billion, indicating growing apprehensions of a potential midterm selloff.
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FAQs
How much will 1 Bitcoin be worth in 2025?
According to Coinpedia’s BTC price prediction, 1 BTC could reach a peak value of $169,046.
How much will 1 Bitcoin be worth in 2030?
By 2030, the price of 1 Bitcoin could escalate to a height of $610,646.
What will Bitcoin be in 10 years?
Forecasting a 10-year growth trajectory for a volatile asset like Bitcoin is challenging. However, the BTC price is anticipated to surpass $600,000 by 2030. With increasing global adoption, Bitcoin could potentially be valued at 1 million dollars.
