30s Summary
Cryptocurrency analysts suggest Bitcoin’s price will continue to rise, based on a 30-day analysis of the funding rate. The funding rate is presently at 0.0084% on Binance, the largest cryptocurrency exchange. Analysts estimate that Bitcoin’s price could potentially climb unless these rates reach 1%. Increased Bitcoin trading since October has been boosting its price. Bitfinex analysts predict any price declines will be temporary due to strong institutional demand, and anticipate Bitcoin could reach $145k-$200k by mid-2025.
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According to an expert on cryptocurrency, there are no current indications that Bitcoin’s price is going to peak too soon. This assessment is based on an analysis of Bitcoin’s funding rate over a 30-day period.
The same expert also believes that Bitcoin’s upward trajectory is likely to continue, and there’s still significant room for it to grow further. Another cryptocurrency trader agrees with this opinion, implying that Bitcoin’s growth phase in the cycle has only just started.
Data from CoinGlass shows that Bitcoin’s funding rate is currently at 0.0084% on Binance, which is the largest cryptocurrency exchange platform in terms of trading volume. In a market where buyers dominate, they may need to pay sellers a fee (or a positive funding rate) to maintain their positions, and vice versa.
Another cryptocurrency trader also believes that Bitcoin’s funding rates are not overheating yet. It was noted that Bitcoin’s price can continue to rise unless these rates reach 1%.
It appears there was a decreased trading activity of Bitcoin between March and October, but volumes have started picking up again since October which has been driving Bitcoin’s upward price momentum.
Meanwhile, analysts from Bitfinex predict that any falls in Bitcoin’s price will only be temporary because of strong institutional demand. They conservatively estimated that Bitcoin could reach $145,000 by mid-2025, and possibly even $200,000 under favorable conditions.
Just remember though that investing is always a risk, so do your homework before making any decisions.