Amid the thrill surrounding the approval of Bitcoin Spot Exchange-Traded Funds (ETFs), Polish crypto analyst Adrian Zduńczyk has shed his insights on the value motion of BTC in 2024 and past.
Bitcoin Price Action In 2024 And Beyond
Zduńczyk, who’s the Chief Executive Officer (CEO) of Birb Nest shared his insights in a latest interview with Thinking Crypto founder Tony Edward. In the interview, Zduńczyk revealed his short-term expectations for Bitcoin, the impression of ETF approval, and post-halving expectations for worth.
Zduńczyk started by drawing consideration to the latest surge in Bitcoin costs whereas additionally noting a minor decline. He emphasised the importance of differentiating between speculations, expectations, and precise buying and selling.
He additional talked about the usage of technical indicators to identify attainable market reversals. These embody the speed of change and the Relative Strength Index (RSI).
Zduńczyk famous how the market pattern has persevered, declaring essential metrics such because the 200-day shifting common. According to him, the 200-day shifting common has been indicating favorable tendencies for the reason that 12 months began. The worth of Bitcoin has elevated by a notable 190% 12 months thus far, regardless of a slight correction. This signifies the energy of the bull market that has been current since January.
When requested concerning the impression of Bitcoin spot ETF on the asset’s worth, he highlighted seasonal tendencies in Bitcoin’s efficiency by establishing a correlation with historic information. He defined that he would moderately go along with the information than opinions. This is as a result of “it is difficult to comment on opinions,” which by definition is “different from the facts.”
Due to this, Zduńczyk has urged that the neighborhood ought to concentrate on the information this time moderately than opinions. This is as a result of information depend on seasonal research and costs do the identical.
Observing the upward tendency in January over time, he offered an evidence of the seasonal sample within the January barometer. As a outcome, he proposed an 80% likelihood of a positive 12 months if January ends nicely.
All-Time High Price Target Post BTC Halving
Zduńczyk offered insights into the potential of Bitcoin reaching a brand new all-time high in 2025. He made this declare after analyzing its previous four-year cycles and their relationship to the presidential inventory market cycle.
The CEO acknowledged that Bitcoin has at all times skilled “powerful rallies” after every halving. He additional backed up his claims with a chart demonstrating BTC worth rallies for the reason that halving started.
Furthermore, Zduńczyk highlighted that it might not be surprising to see a three-to-five-fold improve following the halving worth. However, he has expressed warning as nobody is aware of precisely how excessive Bitcoin will go.
So far, Zduńczyk predicts an all-time excessive worth for BTC between $150,000 to $200,000 post-halving. In addition, he acknowledged that the tendencies are unprecedented as the value may go greater than that and even decrease.
Featured picture from iStock, chart from Tradingview.com
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