Bitcoin May Fall to $70K But Remain 2025’s Best Asset, Predicts Analyst
15.01.2025 8:30 1 min. read Alexander Stefanov
Fundstradt's Tom Lee recently offered fresh insights into Bitcoin's future performance.
He discussed potential price movements for the leading cryptocurrency, currently trading at around $96,000 after recovering from $89,900 earlier this week. Back in December, Bitcoin had reached a record high of $108,268.
Lee suggested that Bitcoin’s 15% decline from its recent peak is a typical correction for an asset with such high volatility. He pointed out that the cryptocurrency’s trajectory often aligns with global liquidity trends and indicated that Bitcoin could see further declines, potentially dropping to $70,000 in the near term.
According to Lee and his team at Fundstrat, this phase represents an opportunity for investors to capitalize on lower prices before the asset regains momentum. He also speculated that a dip to the $50,000 range could serve as a springboard for Bitcoin to begin its next significant rally.
Despite the possibility of further corrections, Lee expressed confidence in Bitcoin’s potential to be one of the top-performing assets this year. Supporting this bullish sentiment, institutional investors like MicroStrategy have continued to strengthen their positions.
The company recently purchased $243 million worth of Bitcoin, increasing its holdings to an impressive 450,000 BTC. This ongoing accumulation signals unwavering faith in Bitcoin’s long-term prospects, even amid short-term market fluctuations.
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Bitcoin remains on an upward trajectory despite its recent price fluctuations, although some analysts believe that the cryptocurrency may have reached a temporary high, especially with the upcoming U.S. elections in focus.
Renowned crypto analyst Doctor Profit has made bold predictions about the Federal Reserve's upcoming meeting on September 18.
Jamie Coutts from Real Vision, a well-known crypto analyst, suggests that Bitcoin could see significant gains by the end of the year as market conditions improve.
In a recent statement, John E. Deaton, a prominent legal expert and advocate for cryptocurrencies, hailed Bitcoin as a symbol of financial liberty and a crucial tool against centralized financial control by figures like US Senator Elizabeth Warren.
Bitcoin analysts are pointing to a rare alignment of technical cycles and on-chain data that could set the stage for its next explosive run.
A well-known critic of Bitcoin, Peter Schiff, has once again predicted a sharp decline in the cryptocurrency’s value, suggesting it could fall below $58,000.
Bitcoin has seen a notable increase in millionaire holders throughout 2024, even though the cryptocurrency is still trading below its previous peak of over $73,000.
The global count of Bitcoin millionaires has surged by 111% over the past year, reaching 85,000 individuals with holdings exceeding $1 million in BTC.
The latest Crypto Wealth Report from Henley & Partners reveals a significant surge in Bitcoin millionaires, rising by more than 111% to a total of 85,400, which now represent almost half of all crypto millionaires in 2024.
Bitdeer Technologies, a Bitcoin mining firm based in Singapore, is gearing up to raise $330 million through a fresh offering of senior convertible notes maturing in 2031.
In a recent report by CoinShares, the Bitcoin mining sector is facing significant challenges as it adapts to the aftermath of the network's April halving.
Bitcoin's mining difficulty has seen a notable decrease of over 4% following the latest network adjustment.
VanEck forecasts that Bitcoin miners could generate up to $38 billion in extra revenue by reallocating 20% of their operations towards artificial intelligence (AI) and high-performance computing (HPC).
Bernstein analysts suggested that a promising scenario for Bitcoin miners is unfolding amidst what they term the "Trump factor," sparked by a failed assassination attempt on the former President at a rally in Pennsylvania.
In August, Bitcoin miners experienced their lowest monthly revenue in a year, falling 57% from the peak earlier in 2024.
Bitcoin miners appear to be reloading their reserves after a lengthy period of offloading their holdings.
Bitcoin miners are actively transferring large amounts of BTC from their wallets as the cryptocurrency’s price surges to record highs above $93,000.
Bitcoin is once again testing fresh highs after climbing past $104,000, reigniting optimism across the crypto space.
Bitcoin miners are operating under their most challenging conditions yet, as record-high network difficulty, falling hashprice, and climbing energy costs converge with a new rival: artificial intelligence.
Bitcoin miners are facing tough times as they encounter new challenges. Last Wednesday, mining difficulty surged dramatically, and Bitcoin's value dropped by $10,000 in one day.