In December 2024, bitcoin saw a slight decline of 2.4%, which raised questions about the end of the bull market. Despite this decline, BTC remains a winner for the year, with an increase of almost 50% in the fourth quarter.
A moderate decline in December: Bitcoin remains resilient
The data shows that despite a sharp decline in recent days, bitcoin is still up from its December opening level. This performance is considered average by historical standards. Trader and analyst Titan of Crypto highlighted the importance of an ascending trendline that should remain in place as support. As long as BTC stays above this trendline, there is no reason to worry, he added.
Looking closer, some market participants are focusing on similar market behavior to last year, with bitcoin closely following a fractal pattern from the end of the fourth quarter. The Nestay trading account claimed that the entire year 2024 has been a copy of 2023, with every structure in the sequence having been replicated.
Can BTC rebound before 2025?
As in two previous market declines, bitcoin could reverse its downward trend once it reaches the price realized by the short-term investor group (STH). Currently near $86,000, the realized price of STH reflects the aggregate price at which speculative BTC investors break even. Any price drop above this STH is just noise, according to an analyst.
However, bitcoin could rebound before January 2025. Analysts are predicting a possible rise, with predictions reaching as high as $118,000, providing a glimmer of hope to investors for a Santa rally.
In short, although bitcoin experienced a slight decline in December 2024, it remains a safe bet that could reach $118,000 before 2025. Investors must therefore remain vigilant and monitor market trends to make informed decisions.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
