Analysts predict bitcoin’s growth to $ 125,000 in December

Experts say that bitcoin BTC $104,887.41 Bitcoin -2.01% Market capitalization $2.08 trillion VOL. 24 hours $3.68 billion has entered the price discovery phase, which opens up opportunities for a significant increase in its value. According to their forecasts, the cryptocurrency may reach new records by the end of the year.

Daan Crypto Trades, a trader and analyst, said that bitcoin has been holding above its previous high, reached in November, for a month. In previous cycles, similar phases led to a 1,600% price increase in 2017 and 245% in 2021.

«Even if we achieve only half of the 2021 growth, it will push the value of bitcoin to $ 150,000,» he said.

According to Capriole Fund founder Charles Edwards, price discovery periods last from 4 to 7 months and are accompanied by «crazy opportunities for long positions.»

In November, which was the first month of the new cycle, bitcoin grew by 40%, setting new records for the monthly candle.

«The coming months will bring extraordinary growth opportunities,» Edwards said.

Analysts also remind that December is traditionally a favorable month for bitcoin, especially during halving years.

Marcus Tillen, founder of 10x Research, noted that in halving years, the average price increase in December reached 28%.

Despite the optimistic forecasts, experts do not rule out the possibility of a correction.

John Glover, Chief Investment Officer of Ledn , warned that a serious collapse is possible only if the price falls below $ 74,000, reached in March 2024.

However, Glover expects investors to continue to accumulate assets on any corrections, which could support further movement to $ 125,000.

Thus, analysts advise to keep a close eye on the bitcoin market, as its new cycle opens up unique opportunities for traders and investors.

If the forecasts come true, the cryptocurrency may reach record levels in the coming months.

By the way, CryptoQuant analysts say that bitcoin’s metrics indicate that the market will continue to grow, and the upper target for the cryptocurrency rate may be $ 146,000.

According to a report by Pantera Capital, bitcoin could reach $ 740,000 by April 2028 if the current growth rate continues. This forecast is based on an average annual growth rate of 88%.