30s Summary

Bitcoin’s price has shot up 55% in 2024, buoyed by strong Wall Street earnings, expected Federal Reserve interest rate cuts and the potential re-election of pro-crypto Trump. Market analyst Coosh Alemzadeh predicts Bitcoin could exceed $100,000 in 2025 and potentially hit $250,000 long-term due to visible signs of a new bull run. Data shows the movement of capital from stablecoins back into Bitcoin, signalling increased confidence and potential new price heights. However, as investment is risky, thorough research is advised.

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This year, the price of Bitcoin (BTC) has rocketed up by 55%, including a 12.5% gain in October alone. A major reason for this is a bunch of companies on Wall Street making loads more money than everyone originally expected. In addition, folks are thinking that the U.S. Federal Reserve is going to cut interest rates in November. And with pro-crypto guy Donald Trump having better chances of becoming president again in 2024, people are feeling pretty optimistic about Bitcoin.

Basically, this means Bitcoin is looking in pretty good shape for the rest of 2024 and beyond. Various signs and figures are pointing to even more gains.

Coosh Alemzadeh, an independent market analyst, is already seeing signs of a new Bitcoin bull run on the horizon. He points to a chart that shows Bitcoin’s price consolidations followed by sharp increases – just like we’ve seen previously in 2011, 2017, and during the 2020-2021 bull run. If his predictions based on these patterns (a.k.a fractal analysis) are correct, we could see Bitcoin zoom above $100,000 in 2025, and maybe even hit $250,000 in the long-term.

Another positive side for Bitcoin is the whale data (how bigger holders of Bitcoin are behaving). Back in 2020 after the COVID-19 crash, these big Bitcoin holders (whales) started buying in heaps, and this kick-started a crazy bull run that saw Bitcoin reach new all-time highs by the end of 2021. As of October 2024, it looks like the big money bags are at it again, piling up on Bitcoin in anticipation of more price gains.

When it comes to stablecoins (cryptocurrencies designed to keep a stable value, like the US dollar), their dominance is on the downfall. As the capital starts to move from stablecoins, it usually means we can expect some significant price increases across the top-ranking cryptocurrencies, including Bitcoin.

In simpler terms, it looks like a lot of folks think Bitcoin’s value will increase compared to the US dollar, showcasing higher confidence in Bitcoin. If this keeps going, it’ll definitely be a huge sign that Bitcoin’s going up, meaning more money will flow into Bitcoin and push its price to new heights.

But remember, nothing in life is guaranteed – investing and trading are risky business. It’s always best to do your own research first and make decisions accordingly.

Source: Cointelegraph