Despite sideways volatility, Bitcoin (BTC) price has closed a daily candle above $95,000 every day since November 27, indicating continued buying pressure from investors in the higher range.
Bitcoin 1 day chart. Source: Cointelegraph/TradingView
Price fluctuations or choppy markets could last for several weeks, but consultants Ernst and Young say long-term price expectations for Bitcoin in 2025 remain high.
The Bitcoin target range for 2025 is between $173,000 and $461,000.
Bitcoin mining industry researcher Danny Marques recently highlighted research based on the last three bull cycles. The study includes targets based on BTC’s post-halving performance and Fibonacci extensions.
Bitcoin price targets based on Fibonacci extensions by Danny Marques. Source: X.com
After “backtesting” data over the past three cycles, the researcher said Bitcoin has surpassed the 3.618, 2.272 and 1.618 Fibonacci levels in chronological order: 2012, 2016 and 2020. Therefore, the minimum target achieved by BTC during each cycle is: It is at the 1.618 FIB level. Marques added it
“Assuming the macro does not deteriorate as it did in 2020, previous cycle observations have shown that Bitcoin could land anywhere between 1.618 and 2.272 fib. That means 1 BTC $173,646 – $461,135 in fiat terms.”
In the third quarter, Cointelegraph reported a similar study that evaluated BTC targets for 2025-2026 based on declining highs from past cycle highs. The study was conducted using an “exponential collapse fit analysis,” which resulted in a minimum price target of $199,998 for BTC by the end of the fourth quarter of 2025.
However, the upper range was more conservative at $288,211 compared to Marques’ maximum target price of $461,135.
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Bitcoin miners are people who “treat” BTC like diamonds.
A wave of profit-taking occurred over the past week as the price of Bitcoin surpassed $100,000 on December 5, with long-term holders selling 827,783 BTC around $99,200.
However, anonymous Bitcoin analyst On-Chain College said that miners are “diamond handling” their BTC in 2024. The analyst explained that miners are promoting high selling pressure in January 2021 (the beginning of the last bull market). Bitcoin miners’ net position change increased to 41,000 BTC.
Minor net position change chart. Source: X.com
By December 2024, it had fallen nearly 91% to 3,700 BTC. The analyst added:
“The days of mining BTC and selling it to cover costs and maintain profits are long gone. A new wave of more consistent holdings and purchases from miners is upon us.”
From a technical perspective, Bitcoin price continues to rally in higher price ranges with an immediate target between $115,000 and $126,500. Unless BTC closes its daily candle below $95,000 or falls below $90,200, the cryptocurrency asset is expected to achieve higher prices before the end of 2024.
Bitcoin 1 day chart. Source: Cointelegraph/TradingView
Independent cryptocurrency analyst Titan of Crypto shared a similar outlook, saying BTC has “soared” above the blue line of the “power law corridor.” Based on historical data, traders expected the BTC price to move quickly because “such breakouts often signify explosive upward moves.”
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This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.