As Bitcoin’s price goes up for the short term, people are now wondering if it can keep going up in the next few months.
Certainly, Bitcoin has important reasons backing it up, like the newly approved spot Bitcoin exchange-traded fund (ETF), which is seen as a factor for its long-term growth. Additionally, the upcoming halving event adds to the positive outlook for Bitcoin.
Two crypto experts, Alan Santana and someone known as best_analysts on X (previously Twitter), think that Bitcoin could have exciting opportunities but might also face some challenges soon.
Rapid Consensus for Bitcoin
Although analysts disagree on when prices will change, they all think prices will go up a lot and reach a new highest point in 2025, mainly because of the 2024 halving event.
In a post on X from January 29, best_analysts said it’s important for long-term investors to check their investments between April and August 2025. He mentioned that looking at past price trends, Bitcoin’s price might go up after the fourth halving in April 2023.
The analyst said that Bitcoin usually goes up a lot to reach new highest points about one year after the halving event. So, it’s important to keep an eye on 2025 because it could be a big year for Bitcoin.
- Predicted Prices of WienerAI for the Years 2024, 2025, and Beyond 2030
- Banana Gun Price Prediction 2023, 2024, 2025, 2030
- Ben Coin Price Prediction 2024, 2025 And 2030
- Cowabunga Coin Price Prediction 2024, 2025 And 2030
- How to Forecast Cryptocurrency Prices for 2024 and Beyond: Focus on Real Data, Not Hopes.
On TradingView, Santana said Bitcoin could go as high as $180,000 or even $220,000 in 2025, in posts from January 25 to January 28.
To back up this idea, Santana compared what happened in 2019 and the time before the halving correction in 2020 to what’s happening now with the price, and what’s expected with the halving.
In 2019, Bitcoin had a five-month period where its value went up, followed by a downturn until March 2020. In 2023, it had a four-month increase, then stayed steady for a while, and then went up again for four months. January 2024 was the first month in over a year where Bitcoin’s value went down.
He said Bitcoin’s price will probably go up this month and keep rising for a while, getting ready for a big increase. We’ll have to wait to see if it will reach a new highest price in 2025, maybe stopping at $180,000, $220,000, or even higher. He thinks Bitcoin’s future looks really good.
Short Term Improvement
But Santana warned that the price could fall a lot shortly, maybe down to $26,000 or even less by February 2024. He saw the recent increase in price to above $40,000 as a temporary recovery before a bigger drop.
The expert attributed the potential plunge to over-leveraged traders who will be liquidated, paving the way for a healthier market and a subsequent bull run in 2024.
“No matter what the numbers say, even if Bitcoin reaches $47,000 or $48,000, we’ll still see a peak lower than before, and the chances of prices falling remain unchanged. No matter how high Bitcoin climbs now, we’ll experience lower prices before a big bull market happens,” he said.
Bitcoin ETF Impact
Besides the excitement surrounding Bitcoin’s post-halving period, some people believe that the spot ETF’s long-term impact could make more people interested in Bitcoin. According to Finbold, cryptocurrency trading expert Michaël Poppe thinks Bitcoin might reach $500,000 when the market truly feels the effects of the ETF.
At the moment, Bitcoin is still worth more than $42,000. Right now, it’s priced at $42,373, and it has gained about 1.5% today.
Disclaimer: The information on this website isn’t investment advice. Investing involves risks, and you may lose your money when you invest.
