Based on an analysis by a CryptoQuant expert, it’s possible that the current bull market for cryptocurrencies could come to an end earlier than some people expect. Using Bitcoin (BTC) as a reference point, this analyst suggests that the most bullish trends will peak in the first three months of 2025 at the earliest, or no later than the second quarter.
The analyst additionally offered insights into the probable direction of market price fluctuations over the next few months, prior to the peak of the bull trend.
Bull Cycle to End Soon
A CryptoQuant expert noted that the ongoing bull market started in January 2023, following closely on the heels of the devastating FTX collapse. Notably, Bitcoin bounced back strongly from a price point below $20,000 during this period. Since then, the leading cryptocurrency has attracted significant interest from major financial players due to innovative offerings like the Bitcoin exchange-traded fund (ETF).
Given the approximately two-year-long bull run we’ve experienced, and Bitcoin’s price experiencing a substantial increase during this period, it seems plausible that we might be approaching the later stages of this market cycle.
According to the analyst’s analysis, about 36% of Bitcoin transactions happen within a month, which is much lower than past highs. They believe that this percentage might increase before the current bull cycle ends, indicating that the expert predicts the peak of the crypto market could occur in either Q1 or Q2 of this year.
Similar to this analyst, numerous individuals in the industry anticipate that digital assets such as Bitcoin could experience exponential growth this year. One of the reasons driving this positive outlook is the upcoming inauguration of Donald Trump as the 47th President of the United States. Crypto supporters are hopeful that his administration will initiate initiatives to promote the acceptance of Bitcoin.
Analyst: Expect 2 to 4 Spikes
At times, Bitcoin’s price has soared dramatically in a swift peak, coinciding with an intense rise in trading volume. Nevertheless, a CryptoQuant analyst foresees that this year’s growth may unfold in a distinct manner.
Instead of just one peak, it’s expected that this ratio could surge quite steeply anywhere from two to four times. This usually results in intense overheating before entering a downtrend or “bear market,” as the analyst noted.
Consequently, the CryptoQuant analyst recommended that the cryptocurrency market should anticipate a substantial rise in prices for Bitcoin and other altcoins in the short term.
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2025-01-06 19:46